A Missouri Senate committee on Tuesday heard another plan to address the state’s looming transportation budget woes.
Sen. Rob Schaaf, R-St. Joseph, presented a plan to turn Interstate 70 into a toll road, which he said is a superior solution to a proposal to increase the state’s fuel tax.
Schaaf suggests leasing Interstate 70 to a private company for a lump sum of money and letting the company collect tolls over the life of the lease to recover its investment. He said the state could use the money from that lease to pay off the bonds it has sold in recent years to pay for other highway improvements, then use the rest of the money to fund other road improvements.