In the United States, presidential election cycles tend to bring with them a spate of proposals for how the federal government can address adequacy and equity issues in K-16 education. The overall cost, complex web of independent funding mechanisms in play, and the lack of appetite for giving up more local (or state) control tends to temper those proposals in practice. However, as these debates continue, it is worth reflecting back on the history of the more influential ideas of how to provide a more adequate and equitable education to children. These key cases and scholarly theories provided the foundation for the current debate around how to balance equity and adequacy for students and taxpayers. This article tracks the evolution of these concepts and how they inform current tensions between equity, adequacy, and local control in educational policy proposals.