Story perspectives

NY Cuts $77B School Funding, Deepens Racial Gaps

5/1/2026

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Summary

Story summary

New York will underfund schools by $77.4 billion in 2025/2026 with a 2007-based formula that freezes costs, giving poorest districts 20 % of needed aid.
Affluent spend $54,464 per student—40 % more than at $39,014—and tax at half the rate of poorest districts, which levy double.
ERASE Racism says a formula would add $32,000 per student for 2.44 million; the 25 most underfunded—87 % of students are of color—had fifteen districts with reading proficiency below 40 % in 2024/2025.

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Story summary

New York will underfund schools by $77.4 billion in 2025/2026 with a 2007-based formula that freezes costs, giving poorest districts 20 % of needed aid.
Affluent spend $54,464 per student—40 % more than at $39,014—and tax at half the rate of poorest districts, which levy double.
ERASE Racism says a formula would add $32,000 per student for 2.44 million; the 25 most underfunded—87 % of students are of color—had fifteen districts with reading proficiency below 40 % in 2024/2025.