State lawmakers are exploring the possibility of using bond issues to pay for repairs at Missouri's college campuses, mental health facilities, the state Capitol and highways.
Senate Appropriations Chairman Kurt Schaefer, R-Columbia, said capital improvements will be a major theme in the next legislative session. He and Rep. Chris Kelly, D-Columbia, are working on a nearly $1 billion bonding bill to make those improvements.
Sen. Mike Kehoe, R-Jefferson City, said any options that allow more funding for highways and bridges should also be considered. Kehoe is the chair of the Senate Transportation Committee.
He said a bond issue should also be considered for a transportation project such as the rebuilding of bridges, or Interstate 70, which the state's transportation department has said is in need of vital repairs.
The idea of a bond issue to make improvements is nothing new to Kelly or Schaefer. Kelly said this will be the fifth consecutive session he will push a bonding bill.
In 2009 Kelly proposed a $700 million higher education bond issue to make improvements on campuses. It passed the House but was filibustered in the Senate. Kelly and Schaefer also worked together to create a joint resolution in 2010 to issue bonds, but that bill never made it out of the House.
Kelly and Schaefer said they will have the bipartisan support necessary this time.
"In the preliminary conversations I've had with fellow legislators, I think there's quite a bit of support for it," Schaefer said.
However, a familiar opponent has emerged. Sen. Jason Crowell, R-Cape Girardeau, said while the state has a backlog of deferred maintenance, funding should come from the state's general revenue stream as opposed to borrowed money.
Crowell, who is leaving the General Assembly due to term limits, said lawmakers would rather borrow money than fix issues in state spending, like tax credits and pensions. The state doled out 8 percent of its expenditure on tax credits alone in the last fiscal year.
"Why in the world would we open up a new credit card when we give out $700 million in tax credits?" Crowell said. "They want to steal from my grandchildren to pay for debt."
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