Dan Malloy in 2016 CT Senate race


On Education: $22M for new charter schools over three years

Several Wall Street billionaires who have invested heavily in the expansion of charter schools contributed more than $200,000 to Democrats in the 2013-14 election cycle, helping Gov. Dannel P. Malloy secure re-election. The campaign contributors earned their fortunes as hedge fund managers and private equity investors before earning reputations as "education philanthropists." They have helped bankroll charter school movements throughout the country, spending to influence elections and to support advocacy movements.

Malloy opened this year's legislative session with a budget proposal that included $4.6 million in funding to open two new privately-managed charter schools, and an additional $17 million for new charter school seats in the next two years. Funding for local school districts would have remained flat.

The charter school funding became a sticking point in budget negotiations this year after a legislative committee voted down the governor's proposal.

Source: Hartford Courant coverage of 2016 Connecticut Senate race May 29, 2015

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Page last updated: Dec 08, 2018