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Benzinga
Benzinga
Politics
Anusuya Lahiri

AT&T, Comcast, Verizon, Others Join Government's Low-Income Broadband Plan

  • Twenty internet providers agreed to help offer high-speed internet to millions of unconnected households through the bipartisan infrastructure law, the Wall Street Journal reports.
  • The companies included AT&T Inc (NYSE:T), Comcast Corporation (NASDAQ: CMCSA), Verizon Communications Inc (NYSE: VZ), Cox Communications Inc, Charter Communications, Inc (NASDAQ: CHTR), Frontier Communications Parent, Inc (NASDAQ: FYBR) and regional providers like Jackson Energy Authority in Tennessee, Comporium Inc. in the Carolinas and the Vermont Telephone Co.
  • The companies, which cover more than 80% of the U.S. population, had agreed to increase their internet speeds or cut prices to ensure that all eligible households can tap into high-speed internet plans up to $30 a month.
  • The plan is part of a $65 billion program to build up the country’s broadband network through the $1 trillion infrastructure law approved by Congress in 2021. 
  • About 11.5 million households have signed up for the monthly subsidy available to families whose income is 200% or less than federal poverty guidelines.
  • The government looks to enroll 48 million eligible households under the program.
  • Price Action: T shares traded higher by 0.85% at $19.86 in the premarket on the last check Monday.
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