Warren vows to ban federal funding for new charter schools Democratic presidential candidate Elizabeth Warren announces education proposal pledging to spend hundreds of billions of dollars on public schools while ending all federal funding to create new charter schools

WASHINGTON -- Democratic presidential candidate Elizabeth Warren has announced an education proposal pledging to spend hundreds of billions of dollars on public schools while ending all federal funding to create new charter schools.

The Massachusetts senator said Monday she'll "adequately and equitably" fund K-12 education using a "wealth tax" of 2% on households worth $50 million that has become a centerpiece of her campaign.

Warren also promises to revive the Department of Education's Office of Civil Rights to better combat discrimination in public schools.

And she says that as president she would ensure public funding goes only to public schools. She says she also would halt any federal funding for new charter schools while banning for-profit charter schools and requiring existing charter schools meet accountability rules currently required of traditional public schools.