The presidency of George H. W. Bush began at noon EST on January 20, 1989, when George H. W. Bush was inaugurated as the 41st President of the United States, and ended on January 20, 1993. In July 1991, Bush and Gorbachev signed the Strategic Arms Reduction Treaty (START I) treaty, the first major arms agreement since the 1987 Intermediate Ranged Nuclear Forces Treaty. Bush proposed the Educational Excellence Act of 1989, a plan to reward high-performing schools with federal grants and provide support for the establishment of magnet schools. Bush announced his reelection bid in early 1992; with a coalition victory in the Persian Gulf War and high approval ratings, Bush's reelection initially looked likely. As a result, many leading Democrats, including Mario Cuomo, Dick Gephardt, and Al Gore, declined to seek their party's presidential nomination. However, Bush's tax increase had angered many conservatives, and he faced a challenge from the right in the 1992 Republican primaries.