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 >
XPeng CEO says its software, AI upgrades to enter 'super fast cycle'
XPeng CEO says its software, AI upgrades to enter 'super fast cycle'
Apr 24, 2024
BEIJING, April 25 (Reuters) - Chinese electric vehicle (EV) maker XPeng ( XPEV ) on Thursday said its software and artificial intelligence training upgrades will enter a super fast cycle from May, and that it hopes use of its platform will expand to other Asian countries and Europe. He Xiaopeng, founder and CEO of the automaker backed by Germany's Volkswagen,...
XPeng CEO says its software, AI upgrades to enter 'super fast cycle'
XPeng CEO says its software, AI upgrades to enter 'super fast cycle'
Apr 24, 2024
BEIJING (Reuters) - Chinese electric vehicle (EV) maker XPeng ( XPEV ) on Thursday said its software and artificial intelligence training upgrades will enter a super fast cycle from May, and that it hopes use of its platform will expand to other Asian countries and Europe. He Xiaopeng, founder and CEO of the automaker backed by Germany's Volkswagen, said software...
SK Hynix expects full chip recovery after Q1 earnings surprise on AI boom
SK Hynix expects full chip recovery after Q1 earnings surprise on AI boom
Apr 24, 2024
SEOUL, April 25 (Reuters) - South Korea's SK Hynix Inc said it expected a full recovery in memory chips on AI demand, after posting its highest profit in nearly two years on massive sales of its advanced DRAM chips such as high bandwidth memory (HBM) used in generative AI chipsets. The world's second-biggest memory chipmaker and Nvidia ( NVDA )...
XPeng CEO says software, AI upgrades to enter 'super fast cycle'
XPeng CEO says software, AI upgrades to enter 'super fast cycle'
Apr 24, 2024
BEIJING, April 25 (Reuters) - XPeng ( XPEV ) said on Thursday that the Chinese electric vehicle maker's software and artificial intelligence training upgrades will enter a super fast cycle from May, and that it hoped use of its platform would expand beyond China to Europe and other Asian countries. He Xiaopeng, founder and CEO of the Volkswagen-backed automaker, made...
Copyright 2023-2026 - www.financetom.com All Rights Reserved