Washington, D.C. – December 15, 2017 – Charter schools could face higher start-up and expansion costs if Congress passes a federal tax reform bill that bans the use of tax-exempt financing through private activity bonds.
To educate lawmakers about that bill’s impact to Florida students and charter schools, Ralph Arza, FCSA’s Director of Governmental Affairs, and Edward Pozzouli, charter school advocate and attorney (pictured), traveled to Washington, D.C. this week. They met with key Congressional members – including Congressman Carlos Curbello and Senator Marco Rubio – to advocate on behalf of the more than 650 public charter schools in Florida and the families they serve.
“Charter schools are public schools. They need to have access to low cost sources of financing,” explains Arza, “without that, public charter schools will be forced to rely on more expensive and restrictive sources of financing and pay higher borrowing costs — taking money away from classrooms, where it is needed the most.”
New markets tax credits, qualified zone academy bonds, and other tax credit programs would also be impacted by the proposed bill.
# # #