GASOLINE SHORTAGES REDUCING HIGHWAY CONSTRUCTION MONEY

Gasoline shortages and higher gasoline prices in 1974 seriously reduced motor-fuel tax revenues available for highway construction in 1974, and although estimates of 1975 motor fuel-tax revenues indicate an increase, it will be less than in previous years. The yield from federal excise taxes and state and local imposts are reviewed. Total current revenues available for highways at all levels of government is expected to be $26 billion. Highway construction bond sales will boost this figure which would need to be revised if highway fuel consumption is further restricted. Federal Highway Administration forecasts show that the states will spend $10.2 billion for capital outlay, $5.5 billion for maintenance, administration, highway police and safety, and 1.8 billion for debt service on state highway obligations in 1975. Counties townships and municipalities will spend another 2.3 billion for capital outlay, 5.5 billion for maintenance, administration, highway police and safety, and 0.8 billion for debt service on local highway obligations. Federal government expenditures of 80.6 billion bring the estimated total disbursements for highways by all units of government in 1975 to $26.7 billion.

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  • Corporate Authors:

    Transport Topics Incorporated

    1616 P Street, NW
    Washington, DC  United States  20036
  • Publication Date: 1974-12-23

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Filing Info

  • Accession Number: 00083008
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Mar 26 1975 12:00AM