WASHINGTON, June 26 – On Monday, the White House started a new marketing campaign for President Joe Biden’s economic policies by distributing $42 billion across the nation’s 50 states and U.S. territories in order to make access to high-speed internet universal by the year 2030. This was done in conjunction with the distribution of the funds.
The infrastructure law that Biden advocated for and which will cost $1 trillion by 2021 was responsible for authorizing the funding that will be provided under the Broadband Equity Access and Deployment Program. The expenditure decisions will be based on a coverage map that was just made public by the Federal Communications Commission. This map illustrates where access is lacking.
The two states in the United States with the most residents, Texas and California, have contributed the most money to the cause, with $3.1 billion and $1.9 billion, respectively. However, other states with a smaller population, such as Virginia, Alabama, and Louisiana, made it into the top 10 list for funding due to a lack of access to broadband internet. These states have vast rural areas, which, in comparison to their big cities, have worse internet coverage.
“It’s the single largest investment that’s ever been made in high-speed internet. “Because access to the internet is just as important for today’s economy to work for everyone as electricity, water, or other basic services,” Vice President Joe Biden said in an address delivered at the White House on Monday.
The awards range from $27 million for United States territory such as the United States Virgin Islands to nearly $3.3 billion for the state of Texas, with a minimum of $107 million being given to each state.
This statement sets off the second stage of Vice President Biden’s tour, which focuses on how legislation passed when his Democratic Party controlled Congress will effect everyday Americans as Biden gears up for his re-election campaign in 2024.
According to a message that was sent out on Monday from senior advisers Anita Dunn and Mike Donilon to congressional Democrats and other supporters, Vice President Joe Biden is planning to give a major economic address on Wednesday in Chicago, which officials from the White House describe as part of the sales pitch. The speech will lay out what is being referred to as “Bidenomics.”
The election in 2024 will be considered, in part, as a referendum on how Vice President Biden has handled the economy. The creation of new jobs and a low unemployment rate are two encouraging developments, but rising inflation and the knock-on effect of increasing interest rates have fueled concerns about an impending economic downturn.
According to a poll that was done earlier this month by Reuters and Ipsos, more than half of American citizens, or 54%, disapprove of how Vice President Biden is doing his job, while only 35% of respondents approved of his stewardship of the economy. The midterm elections in 2022 resulted in the loss of control of the House of Representatives by the Democrats.
According to estimates provided by the administration, there are approximately 8.5 million places in the United States that do not have access to broadband connections.
Broadband providers including Verizon (VZ.N), Comcast (CMCSA.O), Charter Communications (CHTR.O), and AT&T (T.N) have been hesitant to provide service to low-population, rural communities due to the high cost of the investments required and the low number of potential customers in those areas. During the COVID-19 shutdowns, which required students to participate in online schooling, the absence of access to broadband internet received a lot of attention.
Towards the end of this year, the states are anticipated to submit preliminary plans, which will unlock 20% of the funds. The remaining funds will be made available to the organization once the plans have been finalized, which is expected to take until 2025.