Baldwin, Ernst File Bill to Exempt Small Telecoms From Some SEC Filings
Sens. Tammy Baldwin, D-Wis., and Joni Ernst, R-Iowa, filed the Access to Capital Creates Economic Strength and Supports Rural America Act to exempt small telecom companies from some SEC filing requirements. The bill would raise the number of investors that…
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would trigger some SEC requirements for telecom companies that receive "support, directly through an affiliate, through any Federal universal service support" mechanism. “Unfortunately, rural telecom companies are getting hit with disclosure costs that were never intended for them,” Baldwin said: Rural service providers need relief "to build-out high-speed broadband in small communities and continue our efforts to bring broadband access” for everyone. Ernst said "rural telecom providers throughout Iowa face the threat of costly SEC reporting requirements, making it more difficult to invest in broadband throughout Iowa, and" nationally.