Source: U.S. Department of The Treasury
To date, 34 states have been approved to invest approximately $5 billion of Capital Projects Funds, which those states estimate will reach more than 1.4 million locations
WASHINGTON — Today, the U.S. Department of the Treasury announced the approval of broadband projects in South Carolina under the Capital Projects Fund in President Biden’s American Rescue Plan. The state estimates it will use its funding to connect over 31,000 homes and businesses to affordable, high-speed internet. A key priority of the Capital Projects Fund program is to make funding available for reliable, affordable broadband infrastructure, advancing President Biden’s goal of affordable, reliable, high-speed internet for all Americans.
The Capital Projects Fund (CPF) provides $10 billion to states, territories, freely associated states, and Tribal governments to fund critical capital projects that enable work, education, and health monitoring in response to the public health emergency. In addition to the $10 billion provided by the CPF, many governments are using a portion of their State and Local Fiscal Recovery Funds (SLFRF) toward meeting the Biden-Harris Administration’s goal of connecting every American household to affordable, reliable high-speed internet. Together, these American Rescue Plan programs and the Bipartisan Infrastructure Law are working in tandem to close the digital divide – deploying high-speed internet to those without access and lowering costs for those who cannot afford it.
“The pandemic upended life as we knew it and exposed the stark inequity in access to affordable and reliable high-speed internet in communities across the country, including rural, Tribal, and other underrepresented communities,” said Deputy Secretary Wally Adeyemo. “This funding is a key piece of the Biden-Harris Administration’s historic investments to increase access to high-speed internet for millions of Americans and provide more opportunities to fully participate and compete in the 21st century economy.”
Click here to read more…