Prospective research on the politics of school finance is linked to current major policy issues in this paper. Two main sections discuss the politics of revenue raising and distribution within school districts. New developments include a combination of qualitative and quantitative methodologies, and of policy instrument research with financial instrument research. Recommendations are made for revisions of older issues, increased educational research funding, and incorporation of a political analysis in school reform finance research. Three tables and an extensive bibliography are included. (LMI)