Presidential hopeful Elizabeth Warren released an NEA-approved education plan on Monday that aims to quadruple public education funding with a focus on allocating more resources to lower-income students and increasing teacher pay. In its entirety, her education proposal calls for $800 billion more in funding, an amount that would drain the wealth tax revenue raised.
Warren promises to quadruple the amount of money for public school funding by pumping $450 billion into the system over the next decade.Warren's plan also takes aim at charter schools. She would end federal funding for the expansion of charter schools and ban for-profit charters.
A $450 billion infusion into the system over the next decade will encourage schools to use it in part to pay teachers a higher salary and close the educator pay gap, according to her campaign. The funding can also go toward paying for supplies and resources so teachers don't have to pay extra out-of-pocket costs.
Warren's campaign estimates her wealth tax, which rises to 3% on net worth of $1 billion and above, will raise $2.75 trillion over 10 years. A $50 billion investment into school infrastructure, but there's no indication of whether the money will be spread out over a period of time or given in one lump sum.
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