JEFFERSON CITY, Mo. (AP) — Missouri House budgeters are considering ditching Gov. Mike Parson’s proposal to borrow $350 million for bridge repairs.
House Budget Committee Chairman Cody Smith on Wednesday instead recommended using existing funds to pay for road and bridge work.
The latest budget proposal for next fiscal year includes $100 million in additional general revenue for infrastructure maintenance. Smith says he wants to continue putting $100 million a year toward road and bridge repairs for the next several years.
The plan would save an estimated $100 million in interest compared to Parson’s bonding plan.
Parson wants to use the $350 million loan to fix 250 bridges across Missouri. The state would make $30 million payments on that each year for 15 years.
The House plan has not yet been voted out of committee.