FINANCING PROVISIONS RELATED TO THE SURFACE TRANSPORTATION ASSISTANCE ACT OF 1978. STAFF DRAFT ANALYSIS
The financing package proposed in conjunction with the Surface Transportation Assistance Act of 1978. Contains several features that merit special attention both regarding their financial soundess and the budgetary procedures implied. In particular, the proposed bill would provide increased highway authorization for a four-year period, but the highway Trust Fund would be extended for six years. Thus, the four-year program would be paid for by revenues anticipated over a six-year period, apparently avoiding the need for immediate increases in highway taxes. This maneuver, however, by borrowing against future revenues appears to commit the Congress to a large tax increase in the future, and thus might be called a tax "back-door."
United States CongressCongressional Budget Office
Washington, DC USA 20510
- Mudge, R R
- PORTER, K
- Publication Date: 1978-4
- Pagination: 21 p.
- TRT Terms: Federal government; Financing; Taxation
- Identifier Terms: Highway Trust Fund
- Old TRIS Terms: Growth factor method
- Subject Areas: Finance; Highways;
- Accession Number: 00190096
- Record Type: Publication
- Files: TRIS
- Created Date: May 26 1979 12:00AM