Would anyone care to cite the provision in Article I that gives Congress the power to spend taxpayer funds on public education? Hint: There is no such provision. The Department of Education, and everything it does is unconstitutional.
Second, there is no indication whatsoever that more funding improves educational outcomes. Indeed, America is spending more on education, no matter how it's measured, than we have ever spent before, and the results just keep getting worser and worser.
The best thing that could ever be done for American education is to abolish all teachers' unions, the authorization of which has been the worst innovation in the history of American education.
Withdrawal of unconstitutional education support by the Federal government will result in ZERO teacher jobs lost. Lots of worthless administrators, but if teachers lose their jobs over this (which will probably never happen), that will be the States' doing, or the individual school districts, and not the DoE's.
The Committee in question should simply propose the elimination of all education spending, and let the states sort it out when it happens. The Feds have no legitimate role in education, or in funding it.