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COMPARISON OF PRESENT FINANCING WITH PRESENT ESTIMATE OF COST

After applying the deductions summarized in table B, the total estimated cost to be used in determining the apportionment factors for fiscal years 1960, 1961, and 1962 is shown in table C as $32,142,055,000. This amount includes approximately $3,065,409,000 of State matching funds, leaving an estimated $29,076,646,000 to be supplied from the highway trust fund for the 1960 and later fiscal years.

The Federal-Aid Highway Acts of 1954 and 1956 authorize a total of $25.0 billions to be appropriated in specific amounts for each of the fiscal years 1957 through 1969 for the purpose of expediting the construction, reconstruction, or improvement of the Interstate System after July 1, 1956. Another $2.6 billions in State funds would be needed to match these Federal funds at the matching ratios established by the legislation. Thus, the total for Federal and State financing that has been provided under these acts is $27.6 billions, for the period. following July 1, 1956.

By comparison, the total for Federal and State financing to complete the Interstate System after July 1, 1956, as summarized in this report is $37.6 billions. Of this amount $33.9 billions represents the Federal share and $3.7 billions represents the States’ matching share.