New York Governor Hochul Opts State into Federal Scholarship Tax Credit, Potentially Billions for K-12 Education

New York Governor Kathy Hochul has decided to opt the state into the Federal Scholarship Tax Credit, a move celebrated by Democrats for Education Reform (DFER). This decision is expected to unlock billions of dollars in new education resources for New York students and families, with a DFER analysis estimating up to $5.08 billion annually in scholarship contributions. The federal program, taking effect January 1, 2027, allows taxpayers to receive a tax credit for contributions to scholarship-granting organizations supporting K-12 education expenses.