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Debates on contemporary education policy reforms emphasize the need for teacher accountability. In addition, using the context of ongoing fiscal distress, many states are curtailing teachers’ professional rights. These developments have negative effects on teacher morale and satisfaction, which may adversely impact student learning outcomes. In this paper, we investigate the relationship between teacher job satisfaction and students’ math achievement in the elementary grades using a representative sample from the Early Childhood Longitudinal Survey (ECLS-K). We find that teacher satisfaction is positively related to students’ math achievement in late elementary school. We argue that future education reforms should find a right balance between teacher accountability and teacher job satisfaction.