• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy ‘Bidenomics’: $42B internet investment favors wealthy left-wing regions, new report finds
Economy

‘Bidenomics’: $42B internet investment favors wealthy left-wing regions, new report finds

by September 15, 2023
by September 15, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

FIRST ON FOX: President Biden’s multibillion-dollar broadband internet investment meant for rural areas is primarily favoring affluent blue cities and states — even encompassing areas with million-dollar residences and beachfront properties — according to a new report from Sen. Ted Cruz, R.-Tx.

The report, exclusively obtained by Fox News Digital, found that the earmarked $42.45 billion in Broadband Equity, Access, and Deployment (BEAD) funding was allocated ‘despite repeated requests from lawmakers and communities across the country’ to scrutinize how the Biden administration’s telecommunications branch collects data to determine its funding decisions.

Biden, the leading 2024 Democratic candidate, implemented the program in June as part of his ‘Bidenomics’ campaign to promote his economic policies for the 2024 election.

Every state, along with Washington, D.C., and Puerto Rico, received a base amount of $100 million, while the remaining territories were granted at least $25 million each. Texas and California, the two most densely populated states in the country, lead the funding rankings with $3.3 billion and $1.9 billion, respectively.

KAMALA HARRIS SLIP-UP REVEALS HOW BIDENOMICS HURTING AMERICAN FAMILIES

However, the distribution has gone to states with fewer locations lacking service, and the allocation raises eyebrows when considering some peculiar instances of how the funds were distributed.

In Washington D.C., out of the 184 locations lacking broadband internet, 58 of them are clustered within the Smithsonian National Zoo, which includes popular spots like the Butterfly Garden, Lion-Tiger Hill, and the Otter Pond, the report found.

Another instance of odd distribution was in Delaware, when the state received nearly $108 million from the Biden administration in June to address 2,166 unserved locations in the state.

Among those unserved locations is the Biden Environmental Training Center, a state-operated facility for conferences, training, and retreats located just 11 miles north of Rehoboth Beach.

Washington, D.C., and Delaware, both characterized by small size and high population density, were allotted over $547,000 and $52,000 respectively for each location without broadband access. The national median allocation for areas without connectivity averages $5,600 per location.

‘Providing Washington, D.C., which appears to have almost no unserved locations, with such a disproportionately large amount of funding diverts BEAD funds from truly unserved areas of the country,’ said Cruz, ranking chair of the Senate commerce committee.

And the program did not consider whether locations would soon be served through funding from other federal programs already in motion, resulting in more than five million locations set to receive redundant funding.

‘As a result, the billions in taxpayer dollars sent to these states will be diverted to purposes other than connecting unserved Americans,’ Cruz wrote.

The federal government also favors fiber broadband, also known as fiber-optic broadband, an internet connection that uses fiber-optic cables made of thin strands of glass or plastic to transmit data using pulses of light. It is not an inexpensive feat.

‘This bias will drive up costs and waste taxpayer dollars, especially if the Biden administration’s implementation of other programs serves as precedent,’ Cruz wrote.

Officials may also need to take into account that different regions may require alternative internet technologies.

The report used Tuckernuck Island in Massachusetts as an example, where properties are listed at over $1 million. The island does not have wired internet, but it does have fast satellite internet. According to the FCC, it meets the speed requirements set by Congress for funding.

However, the Biden administration’s rules do not consider technologies like satellite as a ‘reliable broadband service.’

Because of this, the whole island is seen as a gap location and could receive new internet infrastructure, even though it already has a good connection, according to the report.

‘BEAD’s lack of consideration as to whether an unserved location truly needs taxpayer subsidies means that locations like Tuckernuck, will be prioritized to receive expensive fiber service,’ the report stated.

‘Further, some of the ‘unserved’ locations that will receive taxpayer-subsidized fiber-to-the-home service include mansions, beachfront resort communities, and mountain vacation homes,’ it said.

In the U.S., the Biden Administration estimates 8.5 million locations lack access to the internet. 

Big broadband companies like Verizon, Comcast, Charter Communications, and AT&T are reportedly hesitant to invest in providing service to sparsely populated rural areas due to the high costs and fewer potential customers.

‘The $42 billion Bidenomics broadband boondoggle is the latest example of the federal bureaucracy aimlessly throwing around taxpayers’ hard-earned money,’ Cruz said in a statement to Fox News Digital. ‘We can solve connectivity challenges across our country, but that does not mean taxpayer dollars should be spent bridging the ‘digital divide’ at the National Zoo and beachfront vacation homes in Nantucket.’

Cruz said the report — which is being sent to the White House — should be a ‘call to action’ for the Biden administration to evaluate regions that may have ‘duplicative’ and ‘wasteful’ spending. Fox News Digital has reached out to the White House for comment. 

Jamie Joseph is a writer who covers politics. She leads Fox News Digital coverage of the Senate. 

This post appeared first on FOX NEWS
You Might Also Like
  • Goldman Sachs Leads 27% Surge in Banking Fees
  • Rep. George Santos investigated by FBI over alleged dog charity scam: report
  • Haley says she would pardon Trump if convicted: ‘Time to move forward’
  • Israeli president says no plans to expel Palestinians from Gaza after ministers’ comments cause uproar
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Republicans move to prohibit Biden admin from hurting low-income Americans via energy policy
next post
RNC reveals location, date of third Republican presidential debate

You may also like

‘Unmitigated s—show’: House Republicans fume over speaker vacancy amid Israel...

October 9, 2023

DeSantis blasts Haley’s leadership by bringing up George Floyd tweet:...

November 15, 2023

Robert F. Kennedy Jr. expected to announce wealthy female entrepreneur...

March 27, 2024

US law could force Biden to pull UN funding if...

May 9, 2024

Maine Democratic Gov. Janet Mills vetoes bill aimed at prohibiting...

July 20, 2023

Secret Service Director Cheatle resigns after mounting pressure in wake...

July 23, 2024

NextNav Stock Price, Forecast, and Latest News

September 20, 2024

Bret Baier speaks with Wisconsin voters ahead of debate

August 23, 2023

Ukraine aid threatens to fall through cracks as Republicans, Democrats...

December 13, 2023

Mike Pompeo suggests Trump wasn’t ‘true conservative leader’ for his...

March 6, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • AI Stocks Ignite Again—Where Smart Money is Heading Next

      June 23, 2025
    • This Week’s Earnings Watch: Turnarounds and Momentum Plays

      June 23, 2025
    • The Best Five Sectors, #24

      June 23, 2025
    • Lagging Mid-cap ETF Hits its Moment of Truth

      June 23, 2025
    • US Strikes Iran: What Comes Next For Stocks?

      June 22, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,603 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,882 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,582 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,543 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,422 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,143)
    • Investing (538)
    • Stock (2,627)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • AI Stocks Ignite Again—Where Smart Money is Heading Next

      June 23, 2025
    • This Week’s Earnings Watch: Turnarounds and Momentum Plays

      June 23, 2025
    • The Best Five Sectors, #24

      June 23, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,143)
    • Investing (538)
    • Stock (2,627)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    WATCH: White House issues brutal response...

    November 21, 2023

    Bitcoin and Ethereum: Bitcoin drops to...

    October 11, 2024

    ‘Trump Employee 4’ retracts testimony after...

    August 23, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here