You could replace it with an Urban Renewal and housing initiative that reinvigorates the inner cities. People will want suburbs at some point .. but I would think there could be a way to keep business in the cities. you also need to deal with American racial ideas at the same time I am afraid. I would also think stipulations to reuse existing land would be a good idea in that this would limit the sprawling lots of vacant buildings. better interstate planning at the same time would be nice touch as well.
You don't want to fund 'urban renewal' of that era without so many qualifiers you'd have to call it something else. Urban renewal in that time meant bulldozing so-called 'slums' because they happened to have a lot of blacks, Italians, etc living in them, and "obviously" it'd be better to build a big access highway through that space to make movement in and out of the city easier. "But don't worry"; the planners would say, "We have plans for public housing, they'll be very nice." Spoiler: They weren't.
To improve things in this era, you'd have to get planners at all levels of government more interested in organic redevelopment of cities that allowed for gradual modernization and expansion of urban housing stock rather than big, disruptive projects. Unfortunately, this was the heyday of big disruptive projects, and politicians and planners don't often get a lot of credit for an effective policy of gradualism.