Page:National Highway Program.pdf/38

22 {|
 * + Financial plan for highway program—Excess Federal gasoline tax over $623 million annually available for highway program [In million dollars]
 * rowspan=2 | Year
 * rowspan=2 | Estimated Federal 2-cent was less $633 million
 * colspan=3 | Construction expenditures
 * rowspan=2 | Road maturities, years
 * colspan=3 | Annual debt service
 * rowspan=2 | Annual excess revenue
 * rowspan=2 | Balance
 * | Total
 * | From revenue
 * | From bond proceeds
 * | Interest 3 percent
 * | Principal
 * | Total
 * | $527
 * | $1,000
 * | $500
 * | $500
 * | 11
 * | $27
 * |$27
 * | 567
 * | 2,000
 * | 500
 * | 1,500
 * | 13
 * | $15
 * | $15
 * | 52
 * | 79
 * | 611
 * | 2,500
 * | 600
 * | 1,900
 * | 15
 * | 60
 * | 60
 * | &minus;49
 * | 30
 * | 652
 * | 2,700
 * | 500
 * | 2,200
 * | 17
 * | 117
 * | 117
 * | 35
 * | 65
 * | 694
 * | 2,900
 * | 500
 * | 2,400
 * | 19
 * | 183
 * | 183
 * | 11
 * | 76
 * | 734
 * | 2,900
 * | 500
 * | 2,400
 * | 20
 * | 255
 * | 255
 * | &minus;21
 * | 55
 * | 777
 * | 2,900
 * | 500
 * | 2,400
 * | 21
 * | 327
 * | 327
 * | &minus;50
 * | 5
 * | 818
 * | 2,900
 * | 400
 * | 2,500
 * | 21
 * | 399
 * | 399
 * | 19
 * | 24
 * | 860
 * | 2,700
 * | 400
 * | 2,300
 * | 22
 * | 474
 * | 474
 * | &minus;14
 * | 10
 * | 898
 * | 2,500
 * | 365
 * | 2,135
 * | 22
 * | 543
 * | 543
 * | &minus;10
 * | None
 * | 943
 * | 607
 * | 607
 * | 336
 * | 336
 * | 983
 * | 607
 * | $500
 * | 1,107
 * | &minus;124
 * | 212
 * | 1,024
 * | 592
 * | 592
 * | 432
 * | 644
 * | 1,063
 * | 592
 * | 592
 * | 471
 * | 1,115
 * | 1,099
 * | 592
 * | 1,500
 * | 2,092
 * | &minus;993
 * | 122
 * | 1,141
 * | 547
 * | 547
 * | 594
 * | 716
 * | 1,171
 * | 547
 * | 547
 * | 624
 * | 1,340
 * | 1,218
 * | 547
 * | 1,900
 * | 2,447
 * | &minus;1,229
 * | 111
 * | 1,257
 * | 490
 * | 490
 * | 767
 * | 878
 * | 1,294
 * | 490
 * | 490
 * | 804
 * | 1,682
 * | 1,339
 * | 490
 * | 2,200
 * | 2,690
 * | &minus;1,351
 * | 331
 * | 1,381
 * | 424
 * | 424
 * | 957
 * | 1,288
 * | 1,422
 * | 424
 * | 424
 * | 998
 * | 2,286
 * | 1,465
 * | 424
 * | 2,400
 * | 2,824
 * | &minus;1,259
 * | 927
 * | 1,504
 * | 352
 * | 352
 * | 1,152
 * | 2,079
 * | 1,550
 * | 352
 * | 2,400
 * | 2,752
 * | &minus;1,202
 * | 877
 * | 1,588
 * | 280
 * | 280
 * | 1,308
 * | 2,185
 * | 1,631
 * | 280
 * | 2,400
 * | 2,680
 * | &minus;1,049
 * | 1,136
 * | 1,671
 * | 280
 * | 2,500
 * | 2,708
 * | &minus;1,037
 * | 99
 * | 1,706
 * | 133
 * | 133
 * | 1,573
 * | 1,672
 * | 1,745
 * | 133
 * | 2,300
 * | 2,433
 * | &minus;688
 * | 984
 * | 1,785
 * | 64
 * | 2,135
 * | 2,199
 * | &minus;414
 * | 570
 * | 37,118
 * | 25,000
 * | 4,765
 * | 20,235
 * | 11,548
 * | 20,235
 * | 31,783
 * }
 * | &minus;1,229
 * | 111
 * | 1,257
 * | 490
 * | 490
 * | 767
 * | 878
 * | 1,294
 * | 490
 * | 490
 * | 804
 * | 1,682
 * | 1,339
 * | 490
 * | 2,200
 * | 2,690
 * | &minus;1,351
 * | 331
 * | 1,381
 * | 424
 * | 424
 * | 957
 * | 1,288
 * | 1,422
 * | 424
 * | 424
 * | 998
 * | 2,286
 * | 1,465
 * | 424
 * | 2,400
 * | 2,824
 * | &minus;1,259
 * | 927
 * | 1,504
 * | 352
 * | 352
 * | 1,152
 * | 2,079
 * | 1,550
 * | 352
 * | 2,400
 * | 2,752
 * | &minus;1,202
 * | 877
 * | 1,588
 * | 280
 * | 280
 * | 1,308
 * | 2,185
 * | 1,631
 * | 280
 * | 2,400
 * | 2,680
 * | &minus;1,049
 * | 1,136
 * | 1,671
 * | 280
 * | 2,500
 * | 2,708
 * | &minus;1,037
 * | 99
 * | 1,706
 * | 133
 * | 133
 * | 1,573
 * | 1,672
 * | 1,745
 * | 133
 * | 2,300
 * | 2,433
 * | &minus;688
 * | 984
 * | 1,785
 * | 64
 * | 2,135
 * | 2,199
 * | &minus;414
 * | 570
 * | 37,118
 * | 25,000
 * | 4,765
 * | 20,235
 * | 11,548
 * | 20,235
 * | 31,783
 * }
 * | 1,550
 * | 352
 * | 2,400
 * | 2,752
 * | &minus;1,202
 * | 877
 * | 1,588
 * | 280
 * | 280
 * | 1,308
 * | 2,185
 * | 1,631
 * | 280
 * | 2,400
 * | 2,680
 * | &minus;1,049
 * | 1,136
 * | 1,671
 * | 280
 * | 2,500
 * | 2,708
 * | &minus;1,037
 * | 99
 * | 1,706
 * | 133
 * | 133
 * | 1,573
 * | 1,672
 * | 1,745
 * | 133
 * | 2,300
 * | 2,433
 * | &minus;688
 * | 984
 * | 1,785
 * | 64
 * | 2,135
 * | 2,199
 * | &minus;414
 * | 570
 * | 37,118
 * | 25,000
 * | 4,765
 * | 20,235
 * | 11,548
 * | 20,235
 * | 31,783
 * }
 * | 1,706
 * | 133
 * | 133
 * | 1,573
 * | 1,672
 * | 1,745
 * | 133
 * | 2,300
 * | 2,433
 * | &minus;688
 * | 984
 * | 1,785
 * | 64
 * | 2,135
 * | 2,199
 * | &minus;414
 * | 570
 * | 37,118
 * | 25,000
 * | 4,765
 * | 20,235
 * | 11,548
 * | 20,235
 * | 31,783
 * }
 * | 1,785
 * | 64
 * | 2,135
 * | 2,199
 * | &minus;414
 * | 570
 * | 37,118
 * | 25,000
 * | 4,765
 * | 20,235
 * | 11,548
 * | 20,235
 * | 31,783
 * }
 * | 4,765
 * | 20,235
 * | 11,548
 * | 20,235
 * | 31,783
 * }
 * }
 * }
 * }

ORGANIZATION FOR ADMINISTRATION

The size of this construction program makes its efficient administration most important. Fortunately, the existing Federal–State partnership in this field has demonstrated its effectiveness over four decades. It should be retained and fully utilized with care taken to avoid establishment of any unnecessary new agencies.

However, a new agency must be established to exercise the proposed. financial authority as previously set forth. It should be small in size with its administrative functions exercised by existing agencies. The committee recommends that the Federal Highway Corporation should consist only of a Board of Directors with secretarial assistants. Three members-at-large would be appointed by the President and confirmed by the Senate, while the Secretary of the Treasury and the Secretary of Commerce would be ex officio members. On problems of location, the Secretary of Defense would also serve as an ex officio member.

The terms of office of the 3 appointed members should be staggered over 5 years or some reasonably similar period of time to insure