Broadband Infrastructure Finance and Innovation Act of 2021

Bill 117 HR 1700, also known as the Broadband Infrastructure Finance and Innovation Act of 2021, aims to improve access to high-speed internet in underserved and rural areas across the United States. The bill proposes the establishment of a new program within the Department of Transportation that would provide loans, loan guarantees, and lines of credit to support the deployment of broadband infrastructure.

The goal of the bill is to incentivize private sector investment in broadband projects by providing financial assistance and reducing the risks associated with such investments. By leveraging public and private funds, the bill seeks to accelerate the deployment of broadband infrastructure in areas where it is currently lacking.

Additionally, the bill includes provisions to ensure that projects funded under the program adhere to certain standards, such as providing affordable and reliable broadband service to consumers. It also requires the Department of Transportation to report to Congress on the progress and impact of the program. Overall, the Broadband Infrastructure Finance and Innovation Act of 2021 aims to address the digital divide in the United States by expanding access to high-speed internet in underserved communities and promoting economic development through improved connectivity.