Bond Buyer 2/14/14 2:36pm ET By Yvette Shields
CHICAGO— The Missouri Highways and Transportation Commission has adopted a 20-year construction program to meet a federal planning mandate but warned it can’t really afford the plan amid dwindling funding.
The commission, which oversees the Missouri Department of Transportation, warned that its construction budget will soon fall below the $485 million needed to keep state roads and bridges in at least their current condition.
The agency is hoping renewed efforts for a 1-cent sales tax increase, or some other revenue source, gain momentum as the new legislative session gets underway. Voter approval would also be needed.