In my view the new formula is much more equitable and will redress many of the imbalances which were created in recent years by a title I formula which has been based upon outofdate data and a highly unreliable set of figures relating to welfare payments. The new formula treats the States much more evenhandedly. In addition. the conferees agreed to changes which will increase programs for migrant students and permit State agencies for the handicapped to continue to count for the purposes of payment those students who they assist who have been deinstitutionalized. I am also pleased that the conferees have agreed to terminate the part C program of concentration grants after fiscal 1975. This action will result in making available more funds for the most important program under title I. programs operated in local school districts.