Rep. John Delaney (D-Md.) announced on Friday that he will run for the White House in 2020.

In an op-ed published in The Washington Post, Delaney said he would not seek reelection to the House in 2018 and laid out his agenda.

Delaney called for an infrastructure overhaul, tax reform and increased investment in science and research.

"My focus is on preparing our country for the future. Technological innovation, automation and globalization are the most powerful forces in the world today," he wrote. "These forces have been enormously positive; they will continue to make life better, enhance productivity, solve some of the world's most difficult problems and open societies."

"Sadly, these forces will also eliminate certain jobs and require workers to learn new skills more quickly," he continued. "They will create security risks and strain our resources."

Delaney, a former healthcare financier who is serving his third term in the House, is the first Democrat to declare his candidacy for the party's 2020 presidential nomination.

He was previously said to be weighing a bid for Maryland governor.

Delaney has an estimated net worth of more than $90 million and has used his vast wealth in the past on his congressional races.