FINANCING FEDERAL-AID HIGHWAYS

The financing of the Federal-aid highway program is a process fraught with misunderstanding. The complexity of the financing mechanisms and their associated jargon lead to considerable confusion and misinterpretation of the funding process. Periodic congressional actions, particularly passage of a new Federal-aid highway act, often result in major modifications, thus making it a changing and dynamic process. Because of the continuing demand for information concerning the financing of Federal-aid highways, the Federal Highway Administration prepared a report describing the basic process involved. This report, "Financing Federal-Aid Highways," was published in January 1974 and was updated twice: "Financing Federal-Aid Highways--An Amplification, July 1974" and "Financing Federal-Aid Highways--Revisited, July 1976." Enactment of PL 95-599, the Surface Transportation Assistance Act (STAA) of 1978, on November 6, 1978, generated a need to revise the 1976 report. Thus, this report has been written to incorporate the changes in the financing procedures brought about by the 1978 STAA. In a few cases, "old" rules may still apply to already authorized funds. However, all the financing provisions described in this report are applicable to new authorizations beginning with FY 1979. As shown in the preceding table of contents, the report follows the financial process from inception in an authorization act to payment from the Highway Trust Fund, and includes discussion of the congressional and Federal agency actions which occur throughout. (Author)

Media Info

  • Features: Appendices; Figures; Tables;
  • Pagination: 64 p.

Subject/Index Terms

Filing Info

  • Accession Number: 00334679
  • Record Type: Publication
  • Files: TRIS, USDOT
  • Created Date: Sep 16 1981 12:00AM