Obama Releases Billions for Infrastructure Projects

President Obama released billions of federal dollars Tuesday for public works infrastructure projects to spur job growth and help revive the U.S. economy, Bloomberg reported.

Obama told Transportation Department employees in Washington that “we are seeing shovels hit the ground” for projects to rebuild crumbling roads, bridges and schools, with about $28 billion of the federal $787 billion stimulus plan devoted to highway construction, Bloomberg said.

“Transportation projects that were once on hold are now starting up again — as part of the largest new investment in America’s infrastructure since President Eisenhower built the Interstate Highway System,” the president said.

Beyond the impact on the economy, Obama said the stimulus funds would also have a measurable impact on highway safety.

Of the 3.5 million jobs saved or created, about 400,000 will be related to infrastructure, Bloomberg reported.

Obama plans to again highlight the stimulus bill Friday in a speech in Columbus, Ohio.

Senior Reporter Sean McNally contributed to this story.