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 >
Competitor Analysis: Evaluating NVIDIA And Competitors In Semiconductors & Semiconductor Equipment Industry
Competitor Analysis: Evaluating NVIDIA And Competitors In Semiconductors & Semiconductor Equipment Industry
Mar 13, 2025
In the ever-changing and fiercely competitive business landscape, conducting thorough company analysis is crucial for investors and industry experts. In this article, we will undertake a comprehensive industry comparison, evaluating NVIDIA ( NVDA ) and its primary competitors in the Semiconductors & Semiconductor Equipment industry. By closely examining key financial metrics, market position, and growth prospects, our aim is to...
News Corp sued by Brave Software, a Google search engine rival
News Corp sued by Brave Software, a Google search engine rival
Mar 13, 2025
March 13 (Reuters) - News Corp ( NWSA ) has been sued by Google search engine rival Brave Software, which seeks to forestall a lawsuit by Rupert Murdoch's company for when readers are directed to copyrighted articles from the Wall Street Journal and New York Post. In a Wednesday night complaint filed in San Francisco federal court, Brave said News...
News Corp sued by Brave Software, a Google search engine rival
News Corp sued by Brave Software, a Google search engine rival
Mar 13, 2025
(Reuters) - News Corp ( NWSA ) has been sued by Google search engine rival Brave Software, which seeks to forestall a lawsuit by Rupert Murdoch's company for when readers are directed to copyrighted articles from the Wall Street Journal and New York Post. In a Wednesday night complaint filed in San Francisco federal court, Brave said News Corp (...
Check Out What Whales Are Doing With AVGO
Check Out What Whales Are Doing With AVGO
Mar 13, 2025
Financial giants have made a conspicuous bullish move on Broadcom ( AVGO ). Our analysis of options history for Broadcom ( AVGO ) revealed 102 unusual trades. Delving into the details, we found 48% of traders were bullish, while 41% showed bearish tendencies. Out of all the trades we spotted, 35 were puts, with a value of $6,497,278, and 67...
Copyright 2023-2025 - www.financetom.com All Rights Reserved