bonds unbound

Jobs bill clears way for $1.4 billion in school construction bonds

Here’s one way the jobs bill headed for the president’s desk today will affect New York City: it unfreezes more than $1 billion in school construction bonds the city needs to fund its capital plan.

The bonds were effectively frozen because of a significant flaw in last year’s federal stimulus bill, which set aside $22 billion over two years for school districts to sell interest-free bonds to fund school construction. As Pro Publica reported late last year, many banks refused to buy the bonds because they were funded by tax credits that investors found worthless.

The jobs bill the Senate passed today aims to solve that problem by using a direct subsidy, rather than a tax credit, to pay banks for the bonds. (The House passed a similar bill last month and President Barack Obama is expected to sign it.)

New York City, like many school districts around the country, had delayed issuing any bonds because of this problem, according to the mayor’s preliminary budget plan released in January. In the mayor’s plan, the Office of Management and Budget noted that it expected Congress to revise the school construction bond program and predicted that when it did, the city would successfully be able to issue all $1.4 billion in bonds.

The city needs all of the funds provided by the school construction bonds, plus an additional $300 million from another federal bond program, in order to carry out all of the construction proposed in its five-year capital plan. The bonds fund a total of $1.7 billion of the city’s $11.3 billion capital plan, which was approved last year.

There’s no deadline for the city to issue the $699 million in bonds set aside for New York City in 2009 and the $664 million allocated for 2010, a spokeswoman for the federal Treasury Department said today, so the city’s delay in issuing the bonds won’t hurt its school construction plans.

Comptroller John Liu, who last month urged New York’s Congressional delegation to swap the direct subsidy for the tax credits in the bond program, today called the Senate’s bill “a tremendous victory for our schoolkids.”

weekend update

How the education world is reacting to racist violence in Charlottesville — and to Trump’s muted response

PHOTO: Andrew Dallos/Flickr
A rally against hate in Tarrytown, New York, responds to the violence in Charlottesville.

For educators across the country, this weekend’s eruption of racism and violence in Charlottesville, Virginia, offered yet another painful opportunity to communicate their values to families, colleagues, and community members.

Many decried the white supremacists who convened in the college town and clashed with protesters who had come to oppose their message. Some used social media to outline ideas about how to turn the distressing news into a teaching moment.

And others took issue with President Donald Trump’s statement criticizing violence “on many sides,” largely interpreted as an unwillingness to condemn white supremacists.

One leading education official, U.S. Education Secretary Betsy DeVos, followed Trump’s approach, criticizing what happened but not placing blame on anyone in particular:

DeVos’s two most recent predecessors were unequivocal, both about what unfolded in Charlottesville and whom to blame:

Leaders of the nation’s two largest teachers unions responded directly to Trump:

The American Federation of Teachers, Weingarten’s union, is supporting vigils across the country Sunday night organized by chapters of Indivisible, a coalition that emerged to resist the Trump administration. The union also promoted resources from Share My Lesson, its lesson-plan site, that deal with civil rights and related issues.

“As educators, we will continue to fulfill our responsibility to make sure our students feel safe and protected and valued for who they are,” Weingarten said in a statement with other AFT officials.

Local education officials took stands as well, often emotionally. Here’s what the superintendent in Memphis, which is engaged in the same debate about whether Confederate memorials should continue to stand that drew white supremacists to Charlottesville, said on Twitter:

Teachers in Hopson’s district return for the second week of classes on Monday. They’ve helped students process difficult moments before, such as a spate of police killings of black men in 2016; here’s advice they shared then and advice that teachers across the country offered up.

We want to hear from educators who are tackling this tough moment in their classrooms. Share your experiences and ideas here or in the form below. 

Betsy DeVos

‘Underperformer,’ ‘bully,’ and a ‘mermaid with legs’: NYMag story slams Betsy DeVos

PHOTO: New York Magazine
A drawing of DeVos commissioned by an 8-year-old starts the New York Magazine article.

A new article detailing Betsy DeVos’s first six months as U.S. education secretary concludes that she’s “a mermaid with legs: clumsy, conspicuous, and unable to move forward.”

That’s just one of several brutal critiques of DeVos’s leadership and effectiveness in the New York Magazine story, by Lisa Miller, who has previously covered efforts to overhaul high schools, New York City’s pre-kindergarten push, and the apocalypse. Here are some highlights:

  • Bipartisan befuddlement: The story summarizes the left’s well known opposition to DeVos’s school choice agenda. But her political allies also say she’s making unnecessary mistakes: “Most mystifying to those invested in her success is why DeVos hasn’t found herself some better help.”
  • A friend’s defense: DeVos is “muzzled” by the Trump administration, said her friend and frequent defender Kevin Chavous, a school choice activist.
  • The department reacts: “More often than not press statements are being written by career staff,” a spokesperson told Miller, rejecting claims that politics are trumping policy concerns.
  • D.C. colleagues speak: “When you talk to her, it’s a blank stare,” said Charles Doolittle, who quit the Department of Education in June. A current education department employee says: “It’s not clear that the secretary is making decisions or really capable of understanding the elements of a good decision.”
  • Kids critique: The magazine commissioned six portraits of DeVos drawn by grade-schoolers.
  • Special Olympics flip-flop: DeVos started out saying she was proud to partner with the athletics competition for people with disabilities — and quickly turned to defending a budget that cuts the program’s funding.
  • In conclusion: DeVos is an underperformer,” a “bully” and “ineffective,” Miller found based on her reporting.

Updated (July 31, 2017): A U.S. Education Department spokesperson responded to our request for comment, calling the New York Magazine story “nothing more than a hit piece.” Said Liz Hill: “The magazine clearly displayed its agenda by writing a story based on largely disputed claims and then leaving out of the article the many voices of those who are excited by the Secretary’s leadership and determination to improve education in America.”