President Biden on Friday announced that his administration is releasing its first year of funding – more than $5 billion – to states to "repair and rebuild bridges" across the nation.
The president's announcement came Friday as he delivered remarks on his administration's efforts over the last two months since he signed the bipartisan infrastructure package into law. The president said that when the United States invests in infrastructure, it is "really investing in opportunity."
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The president said the law provides the country's "largest investment" in bridges since the creation of the interstate highway system.
On Friday, the Department of Transportation's Federal Highway Administration launched the "Bridge Formula Program," which Biden administration officials describe as a "historic investment" in bridges, made possible by the infrastructure law.
Under the program, all 50 states, Washington D.C. and Puerto Rico will receive $26.5 billion over the next five years, and another $825 million to revive old bridges. Officials said the money is critical to updating the 43,000 bridges across the nation that are in poor condition.
The program also will distribute $5.3 billion to states, D.C. and Puerto Rico for the current federal fiscal year, along with $165 million for tribes.
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Officials said the program is expected to improve as many as 15,000 highway bridges, in addition to providing funds for states to "replace, rehabilitate, preserve, protect and construct" bridges.
"Bridges to connect us, bridges to make America work across our country right now, there are 45,000 bridges, 45,000 that are important," the president said. "My...