Missouri Wants to Widen Interstate 70 Between St. Louis and Kansas

 

Fuel-saving vehicles and declines in driving have led to a drop in fuel-tax revenue, which finances all of the highway trust fund. Momentum rose last year for increasing highway and transit spending in a new bill, possibly by raising fuel taxes, slowed as the unemployment rate, Missouri Department of Transportation Director Pete Rahn said.
Courtesy of Missouri Department of Transportation

Construction-equipment makers Caterpillar Inc. and Deere & Co. stand ready to help. Legislation needs to be pushed through for these infrastructure projects so both equipment manufacturers and contractors can keep work flowing and generate income.

All are being stymied by a legislative deadlock that has stalled projects in Missouri and throughout the United States. With revenue from fuel taxes declining, lawmakers are arguing over how to renew a six-year, $286.5 billion spending law that expired at the end of September.

Delays in authorizing the so-called highway trust fund mean states don’t know how much money they’ll get. Missouri, which added at least 8,123 jobs from roadwork funded by the economic stimulus package, may see those gains evaporate unless lawmakers can hammer out a new law.

“We have to know we have a dependable stream of money coming our way,” said Missouri Department of Transportation Director Pete Rahn, who needs $3.5 billion for the Interstate 70 project.

The House of Representatives voted to extend the spending measure for as long as three months. The measure still has to be approved by the Senate. At least $41 billion a year, the amount under the expiring law for roads and bridges only, is at risk, said Janet Kavinoky, U.S. Chamber of Commerce transportation infrastructure director.

Source: Bloomberg News