Terry McAuliffe, a former Democratic National Committee chairman and Virginia gubernatorial candidate, is lending his name to a tax-credit plan co-authored by Republican George Allen and a Democrat.

McAuliffe announced Monday that he backs a proposal to grant federal tax credits to private investors who finance public school rehabilitation projects.

Supporters say that by eliminating a technicality, Congress could generate billions of dollars in private capital for school buildings at no government expense.

Allen, a former governor and U.S. senator, and Paul Goldman, a former Virginia Democratic Party chairman, jointly proposed the idea in a recent New York Times op-ed column.

It also has the backing of Republican Gov.-elect Bob McDonnell.

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