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A Look at the History of the Federal Highway Administration
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February 22
1955 President Dwight D. Eisenhower sends Congress a report titled "A 10-Year National Highway Program." The report, by a presidential committee headed by General Lucius Clay, recommends creation of a Federal Highway Corporation to finance a $101-billion program, including $25 billion for the Interstate System. To pay for the Interstate System, the corporation would issue $20 billion in long-term bonds, to be repaid over 32 years from the existing 2-cent Federal motor-fuel tax. The President calls the plan "A solid foundation for a sound program." However, it fails in Congress.
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