A new idea, universal internet access, has recently been added to the definition of “Bidenomics”.
President Joe Biden unveiled a new initiative in late June. By 2030, that would spend $42 billion on connecting “every person in America” to the internet.
Biden Unveils Ambitious Plan for Universal Internet Access
During his remarks at a White House briefing where the programme was announced. Internet access, according to Biden, is “just as important as electricity or water.”
A new idea, universal internet access, has recently been added to the definition of “Bidenomics”.
President Joe Biden unveiled a new initiative in late June. By 2030, that would spend $42 billion on connecting “every person in America” to the internet.
During his remarks at a White House briefing where the programme was announced. Internet access, according to Biden, is “just as important as electricity or water.”
Universal Internet Access: Comcast
Comcast is currently the biggest cable broadband provider in the United States with 31.7 million subscribers. That puts it in a good position to gain from the recent push for universal internet access made by the Biden administration.
The Affordable Connectivity Programme for 2021 has already benefited Comcast. Over 19 million households have received a monthly subsidy of $30 or more from a $14 billion federal fund to help with broadband costs. One of the main winners was Comcast, whose Xfinity cable and internet service is a national leader.
To date, Comcast stock has increased by 27%.
AT&T
Another business that might profit from the Biden administration’s drive for internet access is AT&T.
The company already runs the biggest fiber-optic cable network in the country. 750,000 corporate buildings and 19.7 million consumer addresses are connected to these cables. in 100 U.S. metro areas, and more than 3 million business customer locations.
Government subsidies could lessen the burden since maintaining and expanding this network are both expensive. Gina Raimondo, the secretary of commerce, made a specific mention of it during the White House press conference. Also this portion of the recently revealed BEAD grant would be designated for “manufacturing fiber-optic cable in America.”
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