You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Verizon Could Get $1.6 Billion in Senate Stimulus Plan [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
FreeStateDemocrat Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 02:08 PM
Original message
Verizon Could Get $1.6 Billion in Senate Stimulus Plan
Advertisements [?]
Source: NY Times

By Saul Hansell
Four words buried in a provision to help subsidize high-speed Internet service contained the latest Senates version of the economic stimulus legislation could mean hundreds of millions of dollars a year in tax credits for Verizon Communications, according to telecommunications analysts.

Indeed, John Hodulik, an analyst with UBS Securities, said the provision might give Verizon $1.6 billion in credits in the next two years, even if it does not hire one more person than it currently plans to do.

At issue is the part of the stimulus package meant to bring fast Internet connections to rural and low-income areas. The House bill that passed Wednesday provided $6 billion in grants to broadband projects. The latest Senate bill increases those grants to $9 billion.

Most significantly, the bill before the Senate also includes tax credits for investment in broadband services to low-income neighborhoods, rural areas and places that dont have any providers of high-speed internet service.

Companies would get a 20 percent tax credit on investments made on current-generation broadband speeds of at least 5 megabits per second in unserved areas and 10 percent for investment in low-income and rural areas.


Corporate America rapes the taxpayer with our party being the enabler.
Printer Friendly | Permalink |  | Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC