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Top New York City Business Leaders Come Out In Support Of Gov. Cuomo’s “Parental Choice in Education Act” To Increase School Choice Options For Middle & Lower Income Households – Urge NYS Senate Majority Leader Flanagan and NYS Assembly Speaker Heastie to Reach Bipartisan Compromise On Tax Credit

June 01, 2015

More than 60 members of the Partnership for New York City issued a letter to leaders of the State Senate and Assembly, urging them to support the Governor’s Parental Choice in Education Act. The Act makes $150 million in state tax credits available to parents and private donors who help offset the cost of tuition at non-public schools, to educators purchasing classroom materials, and to donors who contribute to educational improvement programs in public schools. The signatories, all of whom are CEOs of some of the city’s largest employers, said that the bill would lead to more school choice options for children of middle and lower income households.

“We should be opening as many educational doors as possible for our city’s children, and the Governor’s proposal will do just that. It will increase the number of school options for families – particularly lower- and middle-income households – by encouraging increased giving that will help cover tuition costs at non-public schools,” said Kathryn Wylde, President & CEO of the Partnership for New York City.

Signatories included: Philippe P. Dauman, President and CEO, Viacom Inc.; James P. Gorman, Chairman & CEO, Morgan Stanley; Rupert Murdoch, Chairman, 21st Century Fox; Kenneth I. Chenault, Chairman & CEO, American Express Company; Jerry I. Speyer, Chairman & Co-CEO, Tishman Speyer; Terry J. Lundgren, Chairman & CEO, Macy’s, Inc.; and Laurence D. Fink, Chairman & CEO, BlackRock, Inc.

The signatories said, “We view state incentives for a greater diversity of educational options and partnerships with local employers as having only positive benefits for our city and state as we seek to ensure New York has people with the talent and skills required to excel in an increasingly competitive global economy.”

Read the full letter here.