The legislation would create two funding streams. One would be aimed at improving teaching and learning, and the other would seek to bolster student health and safety.
Key formula programs would get huge increases, but big Obama priorities would get the axe under a fiscal 2012 spending plan from the House panel overseeing K-12 funding.
The Senate Health, Education, Labor and Pensions Committee on Oct. 18 plans to consider a measure reauthorizing the Elementary and Secondary Education Act.
Based on the guidebook released by the U.S. Department of Education, peer reviewers will have to make important judgments about the quality of states' plans for waivers under No Child Left Behind.
The National Education Association is running ads backing the president's plan to provide $30 billion for education jobs and $25 billion for school modernization and repair.
Barack Obama, in his annual back-to-school speech, steers clear of controversy, asking students to pursue post-secondary study.
States that can't apply for No Child Left Behind waivers by mid-February can request to keep their proficiency targets at current levels as they apply for waivers in later rounds.
States will get an extra 15 months to implement the most challenging parts of the State Fiscal Stabilization Fund requirements, which include collecting higher-education data.
So far, state schools' chiefs are welcoming the Obama administration's waiver package, even though it does come with some significant strings.
Last night's GOP presidential debate offered the clearest sign yet that the Republican field is united on K-12 policy: Basically, they all want the feds out.