President Donald Trump’s Big Beautiful Bill is poised to accelerate the privatization of the nation’s school systems — and private equity aims to cash in. By some estimates, the law’s new school voucher provision — which uses public funds to help parents pay for private school tuition — is expected to transfer anywhere from $4 billion to $51 billion to private schools and companies that contract with public school districts. That includes companies owned by private equity firms.

Thanks to the provision, starting in late 2026, individuals can contribute up to $1,700 to qualifying “scholarship-granting organizations” and receive a 100 percent tax credit in return, entirely bankrolled by the federal government. The organizations involved can award scholarships to families with incomes at or below 300 percent of the median area income (which in some places amounts to more than $350,000) to cover expenses such as tuition and school supplies.

No other cause — including children’s hospitals or disaster relief — provides such a reimbursement, awarding a tax credit roughly triple what taxpayers would receive from donating to other charitable organizations.