(Bloomberg) -- Michael Bloomberg is pledging to repair 240,000 miles of U.S. roads and 16,000 bridges by 2025 as part of a comprehensive public works plan that would send more than $1 trillion to state and local governments over a decade.

Previous efforts to enact sweeping federal infrastructure plans have languished without a consensus on how to pay for them, and Bloomberg isn’t saying yet how he’ll fund his. Those details will be part of his forthcoming tax plan, the campaign said.

Bloomberg argues that past spending hasn’t solved the problem because there hasn’t been a national plan to guide investments in needed work by local communities. The former New York mayor was to discuss his policy at the U.S. Conference of Mayors’ winter meeting Wednesday in Washington.

Bloomberg’s plan calls for allocating $850 billion over 10 years for roads, bridges, dams and other infrastructure, with additional spending such as a $1 billion annual “pothole” fund for emergency repairs and $100 billion over a decade for cities with the worst water systems. He would also focus on airports, including “fast rail links” to 10 of the busiest, as well as expanding transit, high-speed rail and broadband.

The plan also proposes a new Climate Resilience Finance Corporation with $100 billion annually in U.S. Treasury credit authority to provide loans, loan guarantees and grants to states, cities and the private sector for green projects. Bloomberg is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.

COMING UP:

Bloomberb and former South Bend, Indiana, Mayor Pete Buttigieg both plan to address the U.S. Conference of Mayors on Wednesday. Bloomberg is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News

Some of the Democratic candidates will debate again in New Hampshire on Feb. 7.

The first-in-the-nation Iowa caucuses will be held Feb. 3. The New Hampshire primary is Feb. 11. Nevada holds its caucuses on Feb. 22 and South Carolina has a primary on Feb. 29.

(Michael Bloomberg is also seeking the Democratic presidential nomination. He is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.)

To contact the reporter on this story: Mark Niquette in Columbus at mniquette@bloomberg.net

To contact the editors responsible for this story: Wendy Benjaminson at wbenjaminson@bloomberg.net, Kathleen Hunter

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