Word: trusts
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Dates: during 1970-1979
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Most experts agree that the U.S.'s transportation network is gravely out of balance-too much emphasis on highways and too little on railroads and mass transit. The main reason can be summed up in four words: the Highway Trust Fund. Created by Congress in 1956 to build the 42,500-mile-long interstate highway system, now 85% complete, the fund has proved to be a financially irresistible force. It automatically receives some $4 billion every year from a federal gasoline tax of 40 per gal., plus another $2 billion from levies on diesel fuel, lubricating oil and other...
...this apparent trust-fund busting were not enough to sway Congress, Ford explained that his proposal would also limit the Federal Government's role in road building to areas of clear national concern like the interstate system. General highway building, he said, is a "classic example of a federal program that has expanded over the years into areas of state and local responsibility." The suggestion was that states and cities would gain new control over every aspect of road building, from financing to construction...
...money would not be available for mass transit, welfare, defense or anything else: it has in effect already been committed to highways. The Department of Transportation's budget projections through 1981 call for federal spending of about $2.2 billion a year-roughly the same amount provided by the trust fund today -to maintain rural, suburban and urban roads and make them safer. Moreover, under Ford's plan, mass-transit funds that used to come from the highway trust would now come out of general revenues, where they would be at a competitive disadvantage with roads. "Sure, we need...
Whitlam said in his speech that he commends "this proposal to the great companies and corporations--which operate in the two countries. Some of them, I trust, will see the chair as a focal point for further research endowments in their own names in disciplines of special interest to them...
...blameworthy director is Michael Rudman, but the greater responsibility lies with Papp. A public subsidy is a public trust. So is a private grant. These ought to be regarded as incentives to dramatic excellence, not as an opportunity to fob off shoddy aesthetic goods on the gullible...