2010 could be a landmark year for education reform. The Elementary and Secondary Education Act (ESEA)--better known as No Child Left Behind--is up for reauthorization, giving Congress and the Obama administration the opportunity to strengthen a law passed with bipartisan support that is producing real results. To build support for renewing and improving ESEA, the business community formed the Business Coalition for Student Achievement and established these seven principles for reform:

First, the bill should encourage the adoption of internationally benchmarked standards that reflect readiness for higher education, the workplace, and international competition. The use of rigorous assessment methods is essential for tracking the improvement of students and the education system.

Second, ESEA must demand accountability in all schools. Reforming "dropout factories"--which account for less than 3% of all U.S. high schools but more than half of all dropouts--should be a top priority. Such underperformance cannot be tolerated. At the same time, we must ensure that these schools have the resources necessary to improve performance.

Third, we must reward good teachers and administrators. Compensation systems should be designed on performance, not tenure or training. We should also find ways to bring talented individuals into the classroom, even if they lack traditional credentials.

Fourth, the bill should encourage schools and districts to do a better job of meeting the needs of parents and the community. This includes offering information about school performance in an easy-to-understand format, supporting parent involvement programs, and working with community organizations and businesses to foster improvement.

Fifth, schools should build on current efforts to use data to track and improve student learning. No business in America could function with the same lack of data that exists in our schools. Teachers, administrators, and parents must know how students are doing so that instruction and resources can be tailored to meet specific needs.

Sixth, a reauthorized ESEA should encourage innovation, including support for charter and virtual schools, advanced course work offerings, and advanced communications technologies.

Finally, STEM (science, technology, engineering, and mathematics) education must become a higher priority. These skills will determine success in the 21st century economy.

Taken together, these principles serve as a road map for the next generation of education reform. Now, it's time to get down to business and give American students the education they deserve.