At a news conference Giannoulias said project decisions would be made by an independent board-- taking politics out of the equation. The fund would be financed by ending tax breaks for oil companies-- which Giannoulias says would generate $45 billion over a decade.
"Direct federal grants, loan guarantees and private sector matching funds would go to those projects that are the most efficient and provide a significant economic benefit to the nation and the region," said Giannoulias (D).
Republican Mark Kirk responded that Giannoulias can't pretend to be pro-jobs and pro-growth while favoring big income tax hikes.
