Missouri Senate moves forward on extraordinary transportation funding measure
With our transportation system now ranking 48th in the nation in revenue per mile, the Missouri Senate is taking steps to devote additional state resources to speed up critical repairs.
With their work on Senate Concurrent Resolution 14, the Senate is taking action toward creating a new, limited revenue stream to help address some of our system’s most important needs.
The urgent action is needed because the state’s 17-cent fuel tax — one of the lowest in the nation — is no longer generating enough revenue to adequately service our transportation system. The Senate is proposing to spend $50 million in the upcoming year to supplement the state’s transportation revenues. The Senate proposal would also have the state borrow an additional $300 million for transportation needs dependent on whether Missouri receives funding through the federal Infrastructure for Rebuilding America program.
“We are quickly reaching a funding crisis for our state’s transportation system. It is unfortunate that Missouri is faced with borrowing money and redirecting general revenue for transportation, but we must take these extraordinary measures. We applaud the Senate leadership for working to ensure our roads and bridges are safe and open for commerce,” said Daniel P. Mehan, president and CEO, Missouri Chamber of Commerce and Industry. “The Missouri business community remains deeply concerned about the future of our transportation system. As a central state, our economy is dependent on our connections. It’s very important that the Missouri General Assembly finalize this essential transportation funding this year while also continuing the discussion about ways to invest in our system for the future.”
Senate President Pro Tem Dave Schatz, a Republican from Sullivan, is sponsoring Senate Concurrent Resolution 14. Gov. Mike Parson has championed the idea of using bonding for imminent infrastructure needs. Only 37 percent of the state’s business leaders are satisfied with Missouri’s basic infrastructure, according to Gallup. Addressing this problem is one of the four key drivers of the Missouri Chamber’s Missouri 2030 strategic initiative.