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Md. congressman proposes new funding system for roads

Sunday - 6/16/2013, 5:06pm  ET

WASHINGTON - A local congressman has a new idea for how to pay for fixing crumbling roads and bridges across the country.

In the past, Congress has always allocated money to states, who then decide which local projects get done. But with money tight at the federal level, Congressman John Delaney, D-Maryland, has another idea.

He wants to set up a $50 billion federal fund, similar to a bank, from which local governments could borrow for local projects.

Delaney says that the fund would allow states to use the money on what they need most, whether it be bridge safety, more roads, light rail or anything else. "This is really designed to be a local-government tool."

He adds that the fund could generate a million jobs over the next decade. And he says unlike huge transportation packages in the past which often spark partisan debate and regional battles, this one has bipartisan support.

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