“Business Roundtable applauds the strategy announced today by President Obama to offer competitive funding to states that act innovatively to improve student achievement,” said John J. Castellani, president of Business Roundtable. “Our members know how important a competitive atmosphere is to spurring originality, growth and long-term success. We are hopeful that this push to incentivize the states will help accelerate much-needed reforms.

“Business Roundtable has long been committed to education reform. But frankly, our members have been dismayed by the slow pace of education reform to date, given the rapid changes in the global economy. The President’s incentives-based approach strips away prohibitions and limitations on promising innovations and proven practices that challenge the status quo.

“As Education Secretary Duncan said, this is likely to be ‘a once-in-a-lifetime opportunity’ for states to make critical improvements, such as providing focused attention and intervention to reverse low-performing schools, implementing useful state and local data systems and offering real rewards or consequences to teachers and principals based on improvements in student performance.

“We strongly believe that for Race to the Top to be effective, it must remain a true competition—not a funding free-for-all that offers rewards to all comers, regardless of improvements. We do not need another reform proposal that promises improvement, but only delivers stagnation. Business Roundtable will work with the President; federal, state and local policymakers; and educators to make sure that Race to the Top effectively accelerates there forms our country’s education system so desperately needs.”