To abolish the Department of Education and to provide funding directly to States for elementary and secondary education, and for other purposes.

This bill would eliminate the federal Department of Education and terminate its programs (with two exceptions). It would then shift the responsibility for federally funded elementary and secondary education to the Treasury, and create a new state-based grant program funded by the amount of federal individual income taxes paid by residents of each state. States would receive block grants to use for K-12 education, with allocations proportionate to each state's share of federal income tax receipts. The bill also includes a policy statement favoring competition and parental choice in education. There is ambiguity in how Pell Grants and Direct Loans would be handled since they are explicitly excluded from the “applicable programs,” but the Department of Education would be abolished, raising questions about who would administer those higher-ed programs after enactment.