JEFFERSON CITY, MO – State businesses are pleased that state legislators are looking at the future of highway funding.

In a statement Tuesday Missouri chamber of commerce touted the passage of a transportation funding bill by a House committee. The House Transportation Committee approved Senate bill 262, that would come up with $500 million dollars yearly toward funding of roads and bridges. Among the items in the bill is an increase in gas taxes by 2.5 cents per year over five years. Fees on electric vehicles are also phased in as part of the legislation.