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"The old convoy had started me thinking about good, two-lane highways, but Germany had made me see the wisdom of broader ribbons across the land." His "Grand Plan" for highways, announced in 1954, led to the 1956 legislative breakthrough that created the Highway Trust Fund to accelerate construction of the Interstate System.
The Highway Trust Fund was established in 1956 to finance the United States Interstate Highway System and certain other roads. The Mass Transit Account was created in 1982. The federal tax on motor fuels yielded $28.2 billion in 2006. [3]
Construction of the original Interstate Highway System was proclaimed complete in 1992, despite deviations from the original 1956 plan and several stretches that did not fully conform with federal standards. The construction of the Interstate Highway System cost approximately $114 billion (equivalent to $618 billion in 2023).
Oct. 27—During the 20 years it took to build and complete Interstate 90 through Spokane to the Idaho border, progress was sometimes slow, fraught with challenging excavation project and elevated ...
Although funds were authorized for the construction of interstate and secondary/feeder roads, appropriations (money actually put into accounts by the United States Treasury) for interstate highways were not made until passage of the Federal Aid Highway Act of 1956. Appropriations were made, however, for the federal-aid formula and for the ...
Inspection of Income, Excess-Profits, Declared Value Excess-Profits, Capital Stock, Estate, and Gift Tax Returns by the Senate Committee on Interstate and Foreign Commerce March 31, 1953 12 10443: Suspension of the Eight-Hour Law as to Laborers and Mechanics Employed by the Atomic Energy Commission on Public Work Essential to the National Defense
The Federal-Aid Highway Act of 1952 authorized $550 million for the Interstate Highway System on a 50–50 matching basis, meaning the federal government paid 50% of the cost of building and maintaining the interstate while each individual state paid the balance for interstate roads within their borders.
January 2 – It is disclosed that President Eisenhower will submit tax programs to Congress that have been modified in a message shortly after he delivers the State of the Union address and regular budget messages. [17] January 4 – President Eisenhower issues a memorandum on the Red Cross to the heads of departments and agencies. President ...