President Bush's budget for fiscal year (FY) 1992 includes $1.94 billion for mathematics, science, and engineering education at the precollege through postdoctoral levels. This is an increase of $225 million or 13 percent over FY 1991. This report from the Committee on Education and Human Resources of the Federal Coordinating Council for Science, Engineering and Technology (FCCSET) outlines the federal role in mathematics, science, and technology education at the precollege through graduate levels; examines the underlying issues that affect this role; and discusses the elements of a strategy that can maximize the effectiveness of the federal contribution in these fields. For mathematics, science, engineering, and technology education specifically, this report: (1) defines the baseline of federal funding and programmatic activity; (2) outlines strategic objectives and budget priorities; (3) presents the first coordinated federal interagency budget; (4) lists criteria for evaluating federal programs; (5) highlights new initiatives and ongoing programs by education level and agency; and (6) provides contact information for each agency. The appendices display four matrices of fiscal year budgets for 1990, 1991, and 1992 and a 1990-1992 comparison. A copy of the 5-page press release announcing the report is appended. (MLF)