Obama's Trillion-Dollar Week

Feb. 16, 2009— -- Fresh off his victory on the stimulus plan, President Obama will push forward this week with other aspects of his administration's plans to jumpstart the economy.

The president's economic push begins Tuesday, when he travels to Denver to formally sign the $787 billion stimulus package.

Within two weeks, the bill will deliver $54 billion to states to help save the jobs of police officers, teachers and other public employees.

Another $150 billion will go toward infrastructure projects, to build highways and schools. Construction on some of the projects designated in the bill could begin as early as June 1.

Also in June, the stimulus package will bring a change to workers' paychecks, with a tax cut that will give the average American $13 back each week.

With the stimulus package ready for signing, the Obama administration is turning to the next major economic hurdle: what to do with the troubled automakers.

Today, the White House announced the formation of an auto task force run by Treasury Secretary Tim Geithner and National Economic Council director Larry Summers to oversee the restructuring of the auto industry.

Automakers General Motors and Chrysler must submit their viability plans to Congress by late Tuesday to continue receiving government loans. The automakers must explain how they have spent the combined $13.4 billion in taxpayer money they already received, and how they plan to restructure so that they can become viable businesses.

Executives at GM told ABC News they are "finishing work on the plan." Chrysler officials said they would not predict how their plan will be received.

Many economists are skeptical that the companies will have detailed restructuring plans to submit by Tuesday's deadline.

Chrysler confirmed it will ask for at least another $3 billion in loans. GM will ask for at least another $4 billion, which Obama administration sources tell ABC News' George Stephanpoulos the company will get.