Mo. House Panel Mulls One-Cent Transportation Tax
JEFFERSON CITY (AP) - A Missouri House committee is considering a one-cent sales tax increase to fund state transportation projects.
Transportation officials said Tuesday the penny tax could generate $8 billion over the next decade. They say the tax increase is necessary for the state to maintain roads and bridges, and to fund new infrastructure projects.
If approved by the Legislature, the tax would go on the statewide ballot in November. The tax would need to be re-approved by voters after 10 years to remain in effect. Ten percent of funds raised by the sales tax would go toward local transportation projects.
The measure cleared both the House and Senate but failed to win final passage in the waning days of last year's legislative session.