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CCV - Churchill Capital V News Story

$10 -0.0  -0.1%

Last Trade - 05/05/21

Sector
Financials
Size
Mid Cap
Market Cap £494.5m
Enterprise Value £493.4m
Revenue £n/a
Position in Universe 3216th / 6849

U.S. senators urge funding for internet access during pandemic

Mon 29th June, 2020 7:12pm
By David Shepardson
    WASHINGTON, June 29 (Reuters) - Democratic U.S. senators on
Monday were to introduce legislation to ensure Americans who
have suffered economic hardships due to the coronavirus pandemic
have access to broadband internet.
    The bill, which was seen by Reuters and will be made public
later on Monday, 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 Lifeline
subsidy program to help millions more low-income Americans
qualify, with more than 20 million Americans out of work.
    The 25 senators introducing the bill include Ron Wyden,
Charles Schumer, Bernie Sanders, Brian Schatz, Elizabeth Warren,
Robert Menendez and Kamala Harris.
    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 and small businesses 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. Funds could be put
toward the monthly internet service costs and require ISPs to
serve eligible households at a reduced price.
    Republicans in both houses of Congress released a framework 
this month that would establish programs to assist families who
have suffered as a result of the COVID-19 pandemic to remain
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)
 ((David.Shepardson@thomsonreuters.com; 2028988324;))
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