September 1959 Highway Trust Fund Bailout Announcement

September 1959 Highway Trust Fund Bailout Announcement

September 09, 2019  | Jeff Davis

This is a White House press release dated September 9, 1959 announcing that President Eisenhower had just requested the first-ever bailout of the Highway Trust Fund from general revenues – a $359 million “repayable advance.” The money was quickly appropriated by Congress (and was repaid on time, by the end of fiscal year 1960).

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