President Bush has proposed substantial increases and decreases in various segments of educational funding for the FY 2007 Budget. You can read the President's budget statement on the budget for the Department of Education here (.pdf). The summary pages for the budget appear below (Click on each page to enlarge). Additional information concerning the proposed Budget can be found here. 
The following are new initiatives and increased spending in the FY 2007 Federal Department of Education Budget:
- $380 million in new funding to improve math and science instruction in K-12 schools, requested as part of the President's American Competitiveness Initiative.
- Nearly $1.5 billion for a renewed High School Reform proposal designed to more thoroughly extend NCLB principles to the high school level and ensure that all students, including low-achieving students most at risk of dropping out, graduate with the knowledge and skills needed to succeed in postsecondary education or the globally competitive workplace
- $35 million in new funds for the Department's portion of the President's multi-agency National Security Language Initiative, which in addition to contributing to national security would help US citizens compete in the global marketplace.
- $100 million for a new program of America's Opportunity Scholarships for Kids, which would provide new educational options for low-income students attending schools identified for restructuring under NCLB
- $200 million in new Title I School Improvement Grants to build State capacity to turn around schools and LEAs identified for improvement, corrective action, or restructuring under the Title I Grants to Local Educational Agencies program.
The following are the $3.468 billion in cuts to educational programs proposed in the FY 2007 Federal Department of Education Budget:
- Educational technology state grants, $272 million
- Even Start, $99 million
High school programs terminations:
- Vocational education state grants, $1,182 million
- Vocational education national programs, $9 million
- Upward Bound, $311 million
- GEAR UP, $303 million
- Talent search, $145 million
- Tech prep state grants, $105 million
- Smaller learning communities, $94 million
- Safe and Drug-Free Schools state grants, $347 million
Elementary and secondary education program terminations:
- Parental information and resource centers, $40 million
- Arts in education, $35 million
- Elementary and secondary school counseling, $35 million
- Alcohol abuse reduction, $32 million
- Civic education, $29 million
- National Writing Project, $22 million
- Star Schools, $15 million
- School leadership,$15 million
- Ready to Teach, $11 million
- Javits gifted and talented education, $10 million
- Exchanges with Historic Whaling and Trading Partners, $9 million
- Comprehensive school reform, $8 million
- Dropout prevention program, $5 million
- Mental Health integration in schools, $5 million
- Women's Educational Equity, $3 million
- Academies for American History and Civics, $2 million
- Close-Up fellowships, $1 million
- Foundations for Learning, $1 million
- Excellence in Economic Education, $1 million
Higher Education Programs:
- Education demos for students with disabilities, $7 million
- Underground Railroad Program, $2 million
- State grants for incarcerated youth offenders, $23 million
Postsecondary Student Financial Assistance Programs:
- Perkins Loan cancellations, $65 million
- Leveraging educational assistance programs, $65 million
- Byrd Scholarships, $41 million
- Thurgood Marshall Legal Educational opportunity, $3 million
- B.J. Stupak Olympic scholarships, $1 million
Vocational rehabilitation programs:
- Supported employment, $30 million
- Projects with industry, $20 million
- Recreational programs, $3 million
- Migrant and seasonal farmworkers,$2 million
- Teacher Quality Enhancement, $60 million
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