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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

Biden to discuss $42 billion internet access investment.

U.S. President Joe Biden drives a Cadillac LYRIQ electric SUV during a visit to the Detroit Auto Sho... U.S. President Joe Biden drives a Cadillac LYRIQ electric SUV during a visit to the Detroit Auto Show, to highlight electric vehicle manufacturing in America, in Detroit, Michigan, U.S., September 14, 2022. REUTERS/Kevin Lamarque/File Photo
U.S. President Joe Biden drives a Cadillac LYRIQ electric SUV during a visit to the Detroit Auto Sho... U.S. President Joe Biden drives a Cadillac LYRIQ electric SUV during a visit to the Detroit Auto Show, to highlight electric vehicle manufacturing in America, in Detroit, Michigan, U.S., September 14, 2022. REUTERS/Kevin Lamarque/File Photo

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To provide high-speed broadband to all Americans by 2030, U.S. President Joe Biden will distribute $42 billion in internet access funding to the 50 states on Monday.

As his reelection campaign heats up, Biden’s second trip will focus on how Congress’s first half-term legislation would affect everyday Americans.

“We have a historic opportunity here to make a real difference in people’s lives and making sure that we deliver on that potential is what we’re about every day and to make sure that people feel that at their kitchen table, in their communities, in their backyards,” White House chief of staff Jeff Zients said.

Zients compared the broadband project to Franklin Roosevelt’s 1936 rural electrification program. The administration estimates 8.5 million U.S. areas are without broadband.

Verizon (VZ.N), Comcast (CMCSA.O), Charter Communications (CHTR.O), and AT&T (T.N) have been reluctant to provide service to low-population, rural locations due to high costs and low customer numbers. COVID-19 shutdowns forced students into online instruction, highlighting broadband connectivity issues.

Based on a new Federal Communications Commission coverage map that shows access gaps, the Biden administration will allocate $42 billion to each state under the Broadband Equity Access and Deployment Program.

States will submit first proposals to release 20% of the funds later this year. The remaining funds will be released in 2025 after the plans are finalized.

A message from top advisors Anita Dunn and Mike Donilon to Congressional Democrats and other allies describes Biden’s Wednesday economic speech in Chicago as “Bidenomics.”

Biden’s speech will focus on middle-class economic growth. Since Biden began office, the advisers said the economy had added over 13 million jobs, including roughly 800,000 manufacturing positions.


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