Investing in Rural Areas: A Priority for the Biden Administration
Yellen Stresses the Importance of Broadband Access in Rural America
Highlighting the Impact of the American Rescue Plan
Treasury Secretary Janet Yellen visited Fredericksburg, Virginia, emphasizing the vital need for investing in rural communities. During her tour of a broadband infrastructure project funded by the $1.9 trillion American Rescue Plan, Yellen showcased the significance of accessible high-speed internet in underserved areas.
Expanding Opportunity through Broadband Infrastructure
Yellen witnessed the Comcast high-speed internet installation in Stafford County, benefiting nearly 700 homes. These enhancements were made possible through President Biden’s ARP legislation, including the $10 billion Coronavirus Capital Projects Fund (CPF). Yellen emphasized that investing in broadband is crucial for economic growth and provides essential services in areas like education, work, and healthcare.
Addressing Connectivity Gaps in Rural America
With approximately one-third of rural households lacking reliable high-speed access, the Biden administration is committed to bridging this digital divide. Virginia has leveraged ARP funds and state allocations to expand broadband services, with additional support expected from the Bipartisan Infrastructure Law.
Ensuring Affordability and Accessibility
Yellen urged continued support for the Affordable Connectivity Program (ACP) under the infrastructure law, which subsidizes internet services for eligible families at a capped cost of $30 per month. Highlighting the administration’s dedication, Yellen emphasized the importance of reliable internet access for all Americans.
Looking Ahead to Economic Priorities
As President Biden and his cabinet focus on economic recovery, efforts to lower inflation and boost domestic manufacturing remain top priorities. Yellen’s optimism about decreasing inflation reflects ongoing initiatives to reduce prescription drug costs and energy expenses.
Investment in Infrastructure and Technology
Comcast has invested significantly in expanding broadband services in Virginia, with billions allocated nationally to enhance network capacity. The collaboration with public and private entities in projects like the rural expansion in Stafford County showcases the effective use of funds to benefit communities.
