Integrating Internet
Ahead of the newest round of potential presidential candidates and the looming election next year, Biden announced his newest tech-forward plan to transform the broadband ecosystem in the United States. In a packaged plan worth roughly $42 billion, President Biden hopes to provide high-speed internet to every single American household. By 2030, improvements in fiber optic cable manufacturing and internet infrastructure will add a new federally backed industry that can improve the digital economy for tens of millions in the nation. Under the program, each state receives a range between $100 million and $3.3 billion in the next two years. The total investment has been already allocated from the Bipartisan Infrastructure Law from Congress.
Bidenโs push for further investment into America comes just one year ahead of his re-election bid, with several prominent names joining the fray like Donald Trump, Robert Kennedy Jr., Ron DeSantis, and more. The program itself, however, has been compared to similar efforts made by popular Liberal Franklin D. Roosevelt. In 1936, the Rural Electrification Act collected funding to build and maintain electrical distribution systems for isolated rural areas of the US. With the help of electricity companies, FDRโs plan was successful; with the help of participating internet providers, one can hope the same success could be true for Bidenโs seven-year project. With a current total of over 40 million Americans lacking broadband, the opportunity for all Americans to expand their digital economy would be a benefit for the tech-revolving era of the 21st century.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.