03/21/2010 05:12 am ET Updated May 25, 2011

Charter Schools Bill Ignored By Albany, State To Lose $700 Million In Federal Aid

The Legislature in a special session this evening refused to act on a bill Gov. David Paterson said is needed for the state to have a chance at $700 million in federal school aid.

Republican senators, who were ignored by the Democratic majority when they tried to bring Paterson's bill to a vote, said the result will likely be loss of the federal aid, higher school taxes and a net cut of hundreds of millions of dollars in statewide school funding.