Missouri Chamber is ready to defend transportation investment bill
Missouri’s economic recovery is set to receive a major boost as legislation championed by the Missouri Chamber of Commerce and Industry will trigger the investment of billions into our transportation infrastructure in coming years.
Given the importance of our transportation system to our economic future, the Missouri Chamber is already working to defend this critically-needed funding against efforts to overturn the legislation.
As opponents file paperwork to challenge the bill at the ballot box, the Missouri Chamber is continuing to promote the transformative impact this legislation will have in our state.
A recent economic impact study found that when we modernize our transportation system through this legislation, we are creating a $1.8 billion positive impact on Missouri’s economy. This would also create $722 million in additional earnings across the state and generate more than 17,000 jobs.
Furthermore, the legislation is written to give Missouri drivers a choice. Anyone who doesn’t want to see transportation improvements in Missouri can use the rebate provision and get their dollars back — this legislation will cost them nothing.
However, the Missouri Chamber believes that most drivers won’t mind paying a little more at the pump to make needed investments in our transportation system. The bill would phase in an increase in the gas tax by 2.5 cents each year over five years. The legislation also phases in increased fees on electric vehicles.
This will lead to roughly $500 million per year in additional funding for critical projects at the state, county and local level.
This transportation funding package was backed by a strong, bi-partisan coalition in the Missouri General Assembly — with support from the broad Missouri Can’t Wait coalition spearheaded by the Missouri Chamber.