Mo. Faces Highway Funding Shortfall
JEFFERSON CITY (AP) - Missouri's transportation director says the state is nearing a crisis in highway funding and may have to turn away federal dollars unless it comes up with more of its own money for roads.
Department Director Kevin Keith told The Associated Press on Monday the agency now believes it must make about $300 million in cost cuts to free up enough state money to match federal highway dollars over the next five years. The department last year had set
a goal of $200 million of savings.
Even with the additional savings, the Missouri Department of Transportation projects it won't have enough money to match its share of federal highway dollars beginning in the 2017 fiscal year.
Keith says MoDOT is not proposing any particular means of raising more revenue.