- 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 (NYSE:T), Comcast Corporation (NASDAQ: CMCSA), Verizon Communications Inc (NYSE: VZ), Cox Communications Inc, Charter Communications, Inc (NASDAQ: CHTR), Frontier Communications Parent, Inc (NASDAQ: 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.
