The White House has announced a $42 billion plan to make high-speed broadband universally accessible across all 50 states and US territories by 2030. This initiative is part of President Joe Biden’s economic policy campaign. With the plan to provide universal high-speed broadband by 2030, it may be an opportune moment to form a tech-savvy California LLC to leverage this technological advancement.
- The funding comes from the 2021 infrastructure law, which was a key aspect of President Biden’s economic strategy.
- Funding distribution is based on a new Federal Communications Commission map, showing regions with poor internet access.
- Texas and California, the most populated US states, will receive the highest funding – $3.1 billion and $1.9 billion, respectively.
- Less populated states, such as Virginia, Alabama, and Louisiana, are also top funding recipients due to their larger rural areas with low internet connectivity.
- The funding ranges from $27 million for territories like the US Virgin Islands to over $3.3 billion for Texas. Every state will receive a minimum of $107 million.
This announcement signals the next phase of Biden’s tour, which emphasises how Democratic legislation will impact average Americans. As part of his campaign, Biden will outline his economic plan, dubbed “Bidenomics”, in an important address in Chicago.
The 2024 election will also be a reflection on Biden’s economic handling. Despite strong job creation and low unemployment, fears of high inflation and interest rate impacts have raised recession concerns. Recent polls suggest a 54% disapproval rate for Biden’s performance, particularly regarding the economy.
Broadband accessibility in the US
The US Government estimates that about 8.5 million locations in the US lack broadband connections. Major broadband providers have been hesitant to serve low-population rural areas due to high investment costs and low subscriber counts.
The importance of this issue was highlighted during the COVID-19 pandemic when remote learning became a necessity.
States will submit initial plans later this year to unlock 20% of the funding. Once these plans are approved, potentially by 2025, the remaining funding will be released.