WASHINGTON – The Biden administration announced a significant investment in the nation's aging infrastructure Wednesday, allocating $5 billion in federal grants for bridge repair and replacement projects in 16 states.

The funding, part of the 2021 Infrastructure Investment and Jobs Act, will address a critical issue: the deteriorating condition of many of the nation's bridges. An estimated 42,400 bridges are in poor condition, posing risks to public safety and hindering economic activity.

The largest chunk of the new funding, $1.4 billion, will go towards replacing two aging and congested bridges on Interstate 5 between Portland, Oregon, and Vancouver, Washington. Other major projects include the Sagamore Bridge in Massachusetts, the Interstate 10 bridge in Alabama, and the Interstate 83 South bridge in Pennsylvania.

Transportation Secretary Pete Buttigieg emphasized the importance of these bridges for regional and national economies, stating that their condition "means they need major urgent investment to help keep people safe and to keep our supply chains running smoothly."

While the $5 billion is a substantial sum, it represents a small portion of the estimated $319 billion needed to repair all of the nation's bridges in need. The administration has pledged to continue addressing this infrastructure challenge in the years to come.

The announcement comes as the Biden administration seeks to highlight its accomplishments in infrastructure and economic development ahead of the 2024 presidential election.