With growing evidence that human capital investment is more efficiently spent on younger children coupled with wide variation in preschool access across states, this article uses a neoliberal approach to examine the potential social costs and benefits that could accrue should the United States decide to implement a centralized preschool accountability system. Conceptual agency-based arguments that support implementing a preschool accountability system are compared and contrasted with conceptual arguments that oppose centralized accountability. In spite of credible conceptual arguments that local control over preschool access maximizes efficiency, we find the most support for an accountability system that enhances equity through universal access to preschool. (Contains 3 notes and 2 tables.)