Lawmakers File House Version of Broadband Grant Tax Treatment Act
Reps. Jimmy Panetta, D-Calif., and Mike Kelly, R-Pa., bowed a House version of the Broadband Grant Tax Treatment Act (S-5021) Wednesday, drawing praise from several communications industry groups. The measure would amend the Internal Revenue Code to ensure that broadband…
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funding from the Infrastructure Investment and Jobs Act and American Rescue Plan Act doesn’t count as taxable income. Senate Intelligence Committee Chairman Mark Warner, D-Va., and Sen. Jerry Moran, R-Kan., filed S-5021 in September (see 2209290067). “Although Congress recently provided historic investments to build out our nation’s broadband, many of the small businesses and companies that will use that federal funding to construct the networks and connect our homes could face steep taxes,” Panetta said: “This bill would exempt those grants from federal taxation and ensure that those dollars go directly towards our goal of universal broadband. Congress is working together to address the digital divide with investment and incentives and this bipartisan legislation would make it easier and quicker to close that gap with connectivity all across America.” Panetta’s office cited support from CTIA, NTCA, USTelecom and WTA.