Contact: Rob Ostrander 202.224.7627 Shana Stribling 202.224.0309
Thursday, July 28, 2005

With negotiators reaching an agreement on a new transportation bill, U.S. Senator Kit Bond, chairman of the Senate Transportation and Infrastructure subcommittee, today announced that Missouri will receive almost $1.3 billion in new highway funds and that he has successfully secured $467.5 million for Missouri transportation projects statewide.

Bond hailed today's conference agreement between Senate and House negotiators on a $286.5 billion federal highway bill, setting the stage for final passage later this week. Bond said the new bill will provide almost $1.3 billion in additional highway funding for Missouri over the life of the five-year bill.

"This is about putting people to work and saving lives," said Bond, who co-authored the legislation. "It has been a long time coming, but all the hard work and time has been worth the wait. Missouri has emerged from this process in a better position than ever. This bill will help build a stronger and safer Missouri for generations."

For years, Bond has fought to increase the return on the dollar that Missourians pay in federal transportation taxes. In the agreement today, Bond successfully fought to increase Missouri's share to 98 cents on the dollar. In 1987, when Bond joined the Senate, Missourians received 76 cents on the dollar.

The new formula ensures that Missouri will receive more than $200 million in new highway dollars each year. Under the bill, Missouri will receive $862 million through the formula programs each year, up from $661 million in the last transportation bill.

On top of the extra funding provided by the new formula, Bond also secured over $265 million in additional new funds for specific Missouri highway projects, bringing the total new highway funding level for Missouri to almost $1.3 billion over five years.

In addition to the highway and bridge funds, Bond secured new dollars for the following projects: $50 million for statewide transit projects; $25 million for a non-motorized pilot project in Columbia; $27.5 million for research; and authorization for two new Metrolink Extensions.

Recent studies show nearly 43,000 Americans lose their lives each year on America's highways and that every $1 billion in new federal investment in highways will create 47,500 jobs.