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CCV - Churchill Capital V News Story

$9.94 -0.0  -0.1%

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Sector
Financials
Size
Mid Cap
Market Cap £486.9m
Enterprise Value £485.8m
Revenue £n/a
Position in Universe 3191st / 6851

UPDATE 1-U.S. senators urge funding for internet access during pandemic

Mon 29th June, 2020 9:07pm
(Adds bill introduced, quote from Senator Wyden)
    By David Shepardson
    WASHINGTON, June 29 (Reuters) - Democratic U.S. senators on
Monday introduced legislation to ensure that Americans who have
suffered economic hardships due to the coronavirus pandemic have
access to broadband internet.
    The bill would provide free or low-cost broadband service to
low-income families or those who have been recently laid off or
furloughed due to the COVID-19 pandemic. It would boost an
existing Federal Communications Commission (FCC) Lifeline
subsidy program to help millions more low-income Americans
qualify.
    The 26 senators introducing the bill include Ron Wyden,
Charles Schumer, Richard Blumenthal, Mazie Hirono, Bernie
Sanders, Brian Schatz, Elizabeth Warren, Robert Menendez and
Kamala Harris.
    Wyden said the bill "will make sure workers and families in
need don’t find themselves stranded offline at the same time
they lose a paycheck."
    A similar measure was introduced in the U.S. House in May.
    At the urging of FCC Chairman Ajit Pai, hundreds of internet
providers, including Verizon Communications  VZ.N , Comcast
 CCZ.N , AT&T Inc  T.N , T-Mobile US Inc  TMUS.O  and Alphabet
Inc’s  GOOGL.O  Google Fiber -agreed in March not to cancel
service or charge late fees to customers who have been impacted
by the pandemic.
    Those commitments end on Tuesday and internet firms are
taking different approaches to how they will handle consumers
who cannot pay their bills.
    Pai has called on Congress to pass legislation to help
consumers stay connected and asked providers to offer extended
payment plans.
    The Democratic bill would grant households with an
out-of-work member a $50 per month benefit to fund monthly
internet service costs and require providers to serve eligible
households at a reduced price.
    Republicans in Congress released a separate framework
proposal this month that would establish programs to assist
families affected by the COVID-19 pandemic in remaining
connected. 
    Congress is likely to take up the issue as it works on new
coronavirus assistance legislation.

 (Reporting by David Shepardson; Editing by Dan Grebler and Tom
Brown)
 ((David.Shepardson@thomsonreuters.com; 2028988324;))
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