- Twenty internet providers agreed to help offer high-speed internet to millions of unconnected households through the bipartisan infrastructure law, the Wall Street Journal reports.
- The companies included AT&T Inc T, Comcast Corporation CMCSA, Verizon Communications Inc VZ, Cox Communications Inc, Charter Communications, Inc CHTR, Frontier Communications Parent, Inc FYBR and regional providers like Jackson Energy Authority in Tennessee, Comporium Inc. in the Carolinas and the Vermont Telephone Co.
- The companies, which cover more than 80% of the U.S. population, had agreed to increase their internet speeds or cut prices to ensure that all eligible households can tap into high-speed internet plans up to $30 a month.
- The plan is part of a $65 billion program to build up the country’s broadband network through the $1 trillion infrastructure law approved by Congress in 2021.
- About 11.5 million households have signed up for the monthly subsidy available to families whose income is 200% or less than federal poverty guidelines.
- The government looks to enroll 48 million eligible households under the program.
- Price Action: T shares traded higher by 0.85% at $19.86 in the premarket on the last check Monday.
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