The U.S. education system is facing severe challenges, including student learning loss, declining academic performance, a youth mental health crisis, and increasing absenteeism. Yet these challenges also provide a catalyst for transformational change. But a new paradigm for education cannot be done without the support for transformative school leaders. This paper advocates for reimagining the role of principal as pivotal agents of change, moving beyond outdated managerial frameworks to empower them as visionary leaders. It outlines innovative policy solutions, or "big bets," aimed at reshaping principal preparation, support systems, and responsibilities. These proposals call on educators, policymakers, and communities to embrace new models of school leadership that can drive lasting success for students and schools.