Charted on the following pages are the pertinent data with respect to financing of the Federal share of the expanded highway con struction program. The first chart shows authorizations as provided by the 1956 Federal-Aid Highway Act. The "ABC roads" (Federal-aid primary, secondary and urban extensions) authorizations were for only three years but continuance of that program is widely accepted as the intent of Congress. The chart points up the basic disparity between annual receipts and expenditures, which coupled with the so-called Byrd amendment and increased highway authorizations in the 1958 Federal-Aid Highway Act has caused the Trust fund to be short of the legislative authorizations. The outlook through 1962 for financing the Federal portion of the program from the Highway Trust Fund is charted also. As of now, the Trust Fund surplus has been exhausted; the red area to the right indicates the cumulative deficit. In this chart a comparison is made between the 1954 and 1958 estimates of The major reasons for the difference between the 1954 and 1958 Estimates 1. The 1956 Federal-Aid Highway Act increased the total mileage another 2. Highway construction costs increased approximately 12% between 1954 3. The 1975 traffic forecast design basis set forth in the Act of 1956 is approxi- 4. Requirements of the Act of 1956 to give equal consideration to local needs 5. The 1958 estimate is a sound engineering finding, produced by 1.2 million man-hours and 12 months of work on the part of the State highway Although some slight variation can be expected in the subsequent Based on the 1958 estimate, the current 1960 fiscal year authorization |