Maryland Democrat Rep. John Delaney unveiled a website June 17 to draw attention to a bill he introduced last year that would create a $50 billion infrastructure fund.
The anchor video at delaneyinfrastructurebill.com shows the congressman, a former businessman, sans suit jacket explaining the provisions of his bill and the likely benefits. The video includes interactive graphics.
The congressman, who is campaigning for a second term, has TV spots running on local cable news networks to promote his “Partnership to Build America Act” bill. Delaney's campaign committee is paying for the ad.
The bill would establish a fund supported by the sale of $50 billion worth of infrastructure bonds, which would have a 50-year term and pay a fixed interest rate of 1%. The fund would be registered with the Securities and Exchange Commission and it would require that at least 25 percent of the infrastructure projects be public-private partnerships. According to the website, the bill is backed by 41 Democrats and 42 Republicans.
Delaney’s bill is among several proposals in Congress aimed at boosting highway funding. In the Senate, Missouri Republican Roy Blunt and Colorado Democrat Michael Bennet introduced similar legislation that would establish a $50 billion infrastructure fund financed with multinational companies’ repatriated foreign profits.
“Investing in our infrastructure creates jobs and it creates jobs that have a decent standard of living associated with them,” Delaney said.
Neither bill has made it out of committee.
