Billionaire Democrat Michael Bloomberg on Wednesday slammed the Biden administration for a proposed regulation that critics say will make it harder to fund new charter schools or expand existing ones, demanding that the White House intervene and stop the rule.

In an op-ed for the New York Post, Bloomberg argued that the Biden administration is about to “impose a series of burdensome and potentially crippling new restrictions on federal funding for educators working to create new charters and expand existing ones.”

The Department of Education proposed rules in March that require that applicants for federal funding to start a new charter school submit a “community impact analysis” that demonstrates there is “unmet demand for the charter school,” in part by showing there is “over-enrollment of existing public schools.” Applicants would essentially be asked to first prove that a new charter school is needed and then meet several racial and economic diversity requirements in order to obtain funding from the federal Charter Schools Program.