US politician John Delaney said Bill Clinton inspired him to draft legislation to create “large scale infrastructure funding,” according to a press release.
Delaney, a Congressman from Maryland, pointed to a speech Clinton, the 42nd US President, gave on rebuilding infrastructure, at a Democratic conference earlier this month.
Democrat Delaney said rebuilding infrastructure would “position the United States to compete globally in the 21st century”.
“We started drafting legislation last week and are in the process of gathering support for the bill,” Delaney said in a statement. “Our proposal will be rooted in the notion that the federal government should be partnering with…the private sector”.
Clinton in his address to a House Democratic conference said overseas corporate earnings from US businesses should be used to fund infrastructure work.
Delaney noted his bill would combine investment from US businesses with low-cost funding and project-specific private investment “to help build the backbone of our country for the future”.
The bill is also seeking to create an office of infrastructure investment within the US Treasury Department. The office would manage an infrastructure fund that would loan capital to states to fund public-private partnerships (PPPs or P3s).
Delaney noted the bill is supporting P3 use in housing, transportation, energy, water and education.
Erstwhile New Jersey businessman Delaney took office in January.