The National Council for the Accreditation of Teacher Education (NCATE) has launched a process to transform how teachers are prepared to meet the "urgent needs" of America's public schools. NCATE's Blue Ribbon Panel on clinical preparation is developing both principles and actions needed to ensure that the next generation of teachers embodies teaching as a practice-based profession for the 21st century. In this paper the author outlines the urgency for change as well as major issues facing teacher education and the policies needed to ensure qualified, well-prepared, and effective teachers for every student. (Contains 47 endnotes.) [This paper was prepared for the National Council for the Accreditation of Teacher Education.]