Missouri Governor Mike Parson has signed Senate Bill 262 which increases the state’s gas tax. The legislation phases in a gas tax increase of 2.5 cents per year over five years. A release from Parson’s office says the tax will invest $500 million per year in transportation funding for state, county and city projects.
The release points to a study that estimates the tax increase will create a $1.8 billion impact on Missouri’s economy and lead to 17,000 more jobs.
