With a deadline for federal education funding looming, State Senator Pedro Espada, Jr. wants to increase the cap for charter schools in New York.

At a press conference at the Bronx Community Charter School in the Fordham area, Espada said increasing the cap would give the state a better chance of landing a “Race to the Top” federal grant. Applications for the grant are due Jan. 19.

“Increasing the cap on charter schools, from 200 to 400, would place the state in a competitive position for obtaining its share of Race to the Top funds, which would benefit children not just in public charter schools, but in all public schools. It will also clear, in a very significant way, the long waiting list of parents and children seeking charter school enrollment.”

Espada is introducing the legislation with one-time adversary, and the senate’s president pro tempore, Malcolm Smith of Queens.

The cap increase would also benefit low-income and minority students, Espada said, citing a study by the Center for Research on Education Outcomes.

“The longer children remain on charter waiting lists, the longer they are being denied the high quality education that charters offer,” said Sasha Wilson, co-director of Bronx Community Charter School. “Legislation that increases the cap on charter schools will open the door to a better education to children throughout the state.”