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“New market tax credits” and charter schools

Posted on by Julie Woestehoff

Following up on our “Master Class” story about hedge funders and the “education sector”: Two years ago, New York Daily News reporter Juan Gonzalez exposed a little known federal tax break, new market tax credits, in which wealthy investors and major banks have been making windfall profits,┬ánearly doubling their investment in seven years. Numerous charter companies as well as banks have participated in this lucrative deal including Imagine Schools, Green Dot, Brighter Choice, KIPP and Andre Agassi schools. See also …