Published: March 09, 2010
WASHINGTON – Today the Business Coalition for Student Achievement (BCSA), representing business leaders from every sector of the U.S. economy, released its Principles for the Reauthorization of the Elementary and Secondary Education Act (ESEA), formerly known as No Child Left Behind.
“Our education system is in crisis,” said Edward B. Rust, Jr., Chairman and CEO of State Farm and Co-Chair of BCSA. “America’s low high school graduation and college completion rates represent systemic failure that leaves our children inadequately prepared in an increasingly competitive world. A focus on improving graduation rates and addressing the achievement gap will be a critical next step in improving academic outcomes for our children.”
John J. Castellani, president of Business Roundtable, presented the principles on behalf of BCSA in testimony today before the Senate Committee on Health, Education, Labor and Pensions.
The recommendations call for ESEA to:
“Now is the time to reauthorize ESEA and build upon the features of more transparency, increased accountability, and expanded choice for children and parents,” said Arthur J. Rothkopf, senior vice president of the U.S. Chamber of Commerce.
“We urge Congress to move ahead with a bipartisan approach to ESEA reauthorization,” said Castellani. “Education reform is an economic security issue, a national security issue, and a vital social and moral issue.”
The testimony and BCSA’s Principles for Reauthorization of the Elementary and Secondary Education Act are at www.biz4achievement.org.
Business Roundtable is an association of chief executive officers of leading U.S. companies with more than $5 trillion in annual revenues and more than 12 million employees. Member companies comprise nearly a third of the total value of the U.S. stock markets and pay more than 60 percent of all corporate income taxes paid to the federal government. Annually, they return more than $167 billion in dividends to shareholders and the economy.
Business Roundtable companies give more than $7 billion a year in combined charitable contributions, representing nearly 60 percent of total corporate giving. They are technology innovation leaders, with more than $111 billion in annual research and development spending – nearly half of all total private R&D spending in the U.S.