In this paper, the political and economic forces influencing attempts to reduce the inequalities in education expenditures are examined. Current programs for financing public education (local, State, and Federal) are compared. In general, State-local tax systems are found to be regressive and improvements are suggested. Inequitability of State aid formulas for equalizing funding sources is criticized. The inadequacy of the present systems, both in acquiring funds and utilizing them effectively, is analysed in terms of taxation methods and the quality of educational opportunities. Major forces of public dissatisfaction are enumerated and illustrated by court cases. Proposals offered for restructuring the financing of education include: (1) utilization of local property tax for local government costs; (2) redistribution of educational resources to establish a State-wide revenue system; (3) assumption by the State of educational financing; (4) increase in the use of State personal income tax to displace the property tax as a major source of school funds. In this plan, the Federal government is advised to provide funding by adopting either the traditional functional aid approach, the self-help approach, the "Fiscal Relief" approach, or a combination of all three. The types of social policy likely to emerge in response to changes in educational financing procedures are detailed in the hope that a restructuring of the financing system will promote greater educational equality. (Author/WI)