On the recordApril 17, 1996
In 12 of the past 15 years, the highway trust fund expended more than it collected in dedicated taxes. In 12 of the years since that trust fund's inception in 1956, the highway trust fund expended more than it collected in both dedicated taxes and interest paid into the trust fund from the general fund. I repeat that. In 12 years since 1956, it expended more than it collected in both taxes and interest. We are not saying do not spend money on highways. I believe in spending money on highways. I am a strong supporter of that. But count it, just like you count everything else in the budget. The gentleman from Ohio [Mr. Kasich] is exactly correct. We have had a very large excess expenditure above revenues out of this fund, and people ought to recognize that.
Source
govinfo.gov
