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would continue at its scheduled rate. In addition, rhc Federal Government would also make payments to the States for those interstate superhighway projects already placed under contract. To accomplish this, fthe Federal Bureau; of Public Roads would be pemiitted limited borrowing from the gerieral revenues of the Treasury, with the Treasury getting first claim on highway trust fund receipts until this money wis repaid.
It estimated that my plan( wouldresult in suspension of new interstate ‘superhighway allocations until the end of the year, but the primary and secondary road work ...of much greater immediate interest to the majority of highway users, I believe-....would continue on schedule, j i In the press, the fact that ths plan.involving neither a tax increase nor a bond issue..._.almost won committee approval wa« described as a “surprise”. I think this h; racteri/.ation resulted from a misrepresentation of the viewpoint of the taxpayers who use the highways. Some “observers” have pictured the public as angry about the holdup in superhighway building, caused by the “busted” stare of the highway fust fund. I h ve not been made aware, however, of 1 any great hue and cry; from the citizens of . the Seventh Congressional District of Virginia for superhighways right away at all costs..even at the cost of adding to the staggering national debt or, as President Eisenhower urges, increasing the federal gasoline tax by 50 per cent.
In addition to the issuance of bonds, the ,plan now before the House would assign one-fifth ot1 the present federal excise tax on r>ew passenger automobiles, all of which now goes to the general fund of the Treasury, to the special highway trust fund. The treatment cr the federal excise tax on
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