Education reform efforts across the United States are dramatically raising expectations for student achievement. However, the Consortium for Policy Research in Education (CPRE) found that teachers have not been adequately prepared for the changes in practice needed to meet new student learning goals. This publication briefly examines research findings regarding teacher professional development and the implications for policy and practice. A CPRE research team suggested that an ambitious curriculum-development federal initiative, based on the new content standards and the realities of teaching practice, may be the best place to start. The publication also reports on CPRE's new grant from the National Institute on Educational Governance, Finance, Policy Making, and Management to study issues in school reform, policy and governance, and school finance; and describes the institute's support of new federal research-and-development initiatives. Information about the institute and its publications is provided. (LMI)