Today the Missouri Senate gave final approval to Sen. Dave Schatz’s (R-Sullivan) transportation funding package. This legislation, which would provide more than $500 million annually in additional funding for MODOT to put toward roads and bridges, will now go to the House for consideration.
“Investment in our transportation infrastructure is an investment in our future,” said Sen. Schatz. “Today, the Missouri Senate took a bold step to give Missouri a future of safer roads and bridges and more economic opportunities. They did the job their constituents elected them to do.”
Missouri currently underfunds its transportation system by more than $825 million annually, according to MoDOT. SB 262 would narrow that gap by phasing in an increase in the gas tax by 2.5 cents each year over five years. The legislation includes a rebate mechanism so that drivers who do not wish to pay the increase can get their money back. The legislation also phases in increased fees on electric vehicles.
“As a central state, Missouri’s economy thrives on our connections. We sit at the axis of trade across North America, and past generations built the highways, rail lines, river connections and air hubs that power Missouri’s economy today. Sen. Schatz knows that now it’s our turn to repair these vital assets and build the infrastructure needed to help our economy grow,” said Daniel P. Mehan, Missouri Chamber president and CEO. “We thank him for his inspiring leadership on this issue and appreciate the Senate’s swift work to approve it. Now we urge the House to quickly pass this critical legislation and put it on the governor’s desk.”
The Missouri Chamber is part of a broad coalition of business organizations who have united behind a campaign called Missouri Can’t Wait to urge the General Assembly to act on the urgent need for increased transportation investment.