financetom
Technology
financetom
/
Technology
/
AT&T wants Big Tech firms to pay into telecom and broadband subsidy fund
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
AT&T wants Big Tech firms to pay into telecom and broadband subsidy fund
Jun 24, 2024 1:30 PM

WASHINGTON, June 24 (Reuters) - AT&T ( T ) CEO John

Stankey said on Monday that Congress should give the Federal

Communications Commission the power to require Big Tech firms to

contribute to a government fund that subsidizes access to

telecom and broadband services.

Under current law, fees are levied on cell phone and

landline service subscribers to support the Universal Service

Fund, which spends about $8 billion a year - nearly all

collected from surcharges on telephone bills.

"The seven largest and most profitable companies in the

world built their franchises on the internet and the

infrastructure we provide," Stankey said in remarks at a telecom

industry forum in Utah.

"Why shouldn't they participate in ensuring affordable and

equitable access to the services of today that are just as

indispensable as the phone lines of yesteryear?"

The issue has taken on new urgency since a government

broadband internet subsidy program used by 23 million households

ran out of money in May and shut down after the White House

unsuccessfully urged Congress to dedicate another $6 billion.

Since 2020, Congress had allocated a total of $17

billion to help lower-income families and people impacted by

COVID get free or low-cost internet.

The Universal Service Fund provides funding to help

low-income consumers, schools, libraries and rural health care

providers to get access to telephone or broadband internet

service.

There are several proposals in Congress to require tech

companies and broadband providers to contribute to the fund.

Facebook's parent, Meta, and Google

did not immediately comment.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
What 14 Analyst Ratings Have To Say About Apple
What 14 Analyst Ratings Have To Say About Apple
Dec 26, 2024
Throughout the last three months, 14 analysts have evaluated Apple ( AAPL ) , offering a diverse set of opinions from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 4 4 3 3...
Analyzing Microsoft In Comparison To Competitors In Software Industry
Analyzing Microsoft In Comparison To Competitors In Software Industry
Dec 26, 2024
In the fast-paced and highly competitive business world of today, conducting thorough company analysis is essential for investors and industry observers. In this article, we will conduct an extensive industry comparison, evaluating Microsoft ( MSFT ) in relation to its major competitors in the Software industry. Through a detailed examination of key financial metrics, market standing, and growth prospects, our...
Understanding Apple's Position In Technology Hardware, Storage & Peripherals Industry Compared To Competitors
Understanding Apple's Position In Technology Hardware, Storage & Peripherals Industry Compared To Competitors
Dec 26, 2024
In today's fast-paced and competitive business landscape, it is essential for investors and industry enthusiasts to thoroughly analyze companies before making investment decisions. In this article, we will conduct a comprehensive industry comparison, evaluating Apple ( AAPL ) against its key competitors in the Technology Hardware, Storage & Peripherals industry. By examining key financial metrics, market position, and growth prospects,...
Competitor Analysis: Evaluating NVIDIA And Competitors In Semiconductors & Semiconductor Equipment Industry
Competitor Analysis: Evaluating NVIDIA And Competitors In Semiconductors & Semiconductor Equipment Industry
Dec 26, 2024
In the ever-evolving and intensely competitive business landscape, conducting a thorough company analysis is of utmost importance for investors and industry followers. In this article, we will carry out an in-depth industry comparison, assessing NVIDIA ( NVDA ) alongside its primary competitors in the Semiconductors & Semiconductor Equipment industry. By meticulously examining key financial metrics, market positioning, and growth prospects,...
Copyright 2023-2025 - www.financetom.com All Rights Reserved