This joint report by NCTM and the Association of State Supervisors of Mathematics (ASSM) of a project held July 21-24, 2004, provides insights into where we appear to be headed as a nation in our expectations for students' mathematics learning. The report is an initial attempt to examine across states the impact of NCTM's Principles and Standards for School Mathematics on curriculum reform, discern how state educational agencies approached the task of developing state standards and bring to light areas of commonality and difference. The information obtained from this endeavor lays a foundation for discussions about the future direction of local, state and national mathematics curricula and will be used by mathematics supervisors to further evaluate and refine state initiatives.