The Soviet Union's launching of Sputnik caused the federal government to increase spending on the study of math and science in US schools because the US did not want the Soviet Union having better technology/capabilities than the US.
This competition over space related achievements became known as the period of the "Space Race." This constant competition was a way to show military/scientific superiority over the other country. Along with this, it increased military capabilities for both countries. To ensure their success in the "Space Race" the US government poured millions of dollars into the math and science fields.