Keeping Our Promises to America's Children Act of 2007 - Provides a moratorium on compliance by failing schools with certain requirements for achieving adequate yearly progress (AYP) toward state academic performance standards under the Elementary and Secondary Education Act of 1965.
Allows states and local educational agencies, if the federal funds appropriated for the pertinent remedial program, project, or activity are less than those authorized, to defer, modify, or suspend related functions the agencies are required to carry out to ensure that schools achieve AYP.
Requires the Secretary of Education to ensure that negative consequences shall not apply to such agencies for actions taken under this Act.