Parental involvement is frequently touted as a key part of any solution to the achievement gap in US schools. Yet the mainstream model of parental involvement has been challenged on the grounds that it neglects parents’ political agency, the cultural diversity of families, and the empirical evidence of limited efficacy. This article argues that to understand parental involvement’s promise and limitations, it is necessary to consider it in historical context. Accordingly, it traces the history of “parental involvement” as a policy goal through the past half century. It provides an account of the mainstream parental involvement research, as well as critiques. Ultimately, the article argues that parental involvement is neither boon nor bane. As an important aspect of the politics of public schooling, parental involvement has diverse effects, which can support or hinder equity and student success.