Jason Hall, CEO of Greater St. Louis, Inc., issued the following statement after the Missouri General Assembly passed SB 262, a bill that would raise transportation infrastructure funds in Missouri.

“Yesterday, the Missouri House gave final approval to SB 262, a bill that would increase state investment in transportation infrastructure through the motor fuel tax. This is a monumental achievement for an issue that has been unresolved for decades. On behalf of the St. Louis business community, we applaud the leaders in both chambers who made passage possible, specifically, St. Louis metro legislators who led this breakthrough policy, sponsors Senator Dave Schatz (R-Franklin) and Representative Becky Ruth (R-Festus). SB 262 will allow Missouri to make critical investments in our transportation networks, bolstering our region’s global competitiveness and our ability to attract and foster a vibrant workforce and business community. We know infrastructure is a top priority for the Parson Administration, and we encourage the Governor to swiftly sign SB 262 into law so that Missouri can begin to address its infrastructure needs.”

SB 262 will generate an additional $500 million in annual revenue, according to the Missouri Chamber of Commerce and Industry. Currently, Missouri’s motor fuel tax ranks next to last in the country. This is the first time in 25 years that Missouri lawmakers increased the state’s motor fuel tax.