Contact: Rob Ostrander 202.224.7627 Shana Stribling 202.224.0309
Friday, June 25, 2004

ST. CHARLES, MO – U.S. Senator Kit Bond today met with local business and community representatives in St. Charles County to provide representatives with an update on the highway bill and other federal issues and pledged to continue to bring federal investments to Missouri communities. Chamber of Commerce members from St. Peters, St. Charles, O'Fallon, Wentzville, Foristell, Cottleville, Lake St. Louis and New Melle joined Bond at today's event.

"St. Louis and St. Peters Counties continue to diversify with modern housing, commercial enterprises, shopping centers, and new industry," said Bond. "Even in strong economic times, the right federal investments and strong partnerships between federal and local governments are crucial. I will continue to work to forge these partnerships and fight to bring critical investments home to Missouri's communities."

Bond told the group that earlier this week the Senate Environment and Public Works (EPW) Committee passed the reauthorization of the Economic Development Administration (EDA). In communities across Missouri, the EDA makes a significant impact. Over the last decade, EDA has invested more than $115 million in Missouri. Also, since 1998, EDA funds have led to the creation of over 5,000 jobs. Bond said that this year's reauthorization, which among a number of changes, includes increased funding and incentives for deserving projects, will allow the EDA to better assist communities to develop local economies.

As Chairman of the EPW's Senate Transportation and Infrastructure Subcommittee, Bond is jointly responsible for writing the federal highway bill. Bond stressed that this bipartisan bill is a big win for Missouri. The highway bill includes a minimum guarantee of 95 cents on the dollar for "donor" states, like Missouri. When Bond first became a member of EPW. Missouri only received about 76 cents on the dollar. Currently the highway legislation in a House-Senate Conference to work out the differences to the two bills, where Bond will continue to fight for the $318 billion level of funding.

Bond explained that the highway bill, with the new 95 cents guarantee and $318 billion bill total, will mean $250 million in new dollars to Missouri each year, which is about $1.5 billion in new projects that are not currently planned for. In addition to the $1.5 billion in new dollars for Missouri, an extra $50 million is included in the bill for the proposed Mississippi River Bridge in St. Louis. This makes the bi-state bridge a federal priority, helping ease the burden on Missouri's competing transportation needs. The bill also includes a number of important safety provisions to help states like Missouri address high numbers of highway-related deaths.

Also important to regional transportation interests, Bond reported that the EPW Committee passed his bipartisan legislation to update the aging locks on the Mississippi River. This bill authorizes $2.3 billion for seven new locks, including $1.46 billion for ecosystem restoration. Bond said it is important to improve the aging lock and dam system in order to maintain the 1,000 miles of Missouri and Mississippi River shoreline and inland ports, which serve as Missouri’s arteries to world markets.

Kit Bond is Missouri's senior Senator and served twice as Governor before continuing his service in his third term in the United States Senate.