Final answer:
The Every Student Succeeds Act (ESSA) is a program introduced by President Obama that removed federal funding penalties for underperforming schools.
Step-by-step explanation:
The program introduced by President Obama that removed federal funding penalties for schools underperforming on tests is the Every Student Succeeds Act (ESSA). This law, passed in 2015, shifted the accountability and improvement measures from the federal level to the states. Under ESSA, states are required to submit plans and goals for educational approaches to the U.S. Department of Education for approval.