Senators Tammy Baldwin of Wisconsin and Joni Ernst of Iowa introduced bipartisan legislation to protect and expand access to high-speed internet in rural communities and encourage rural broadband investment. The Access to Capital Creates Economic Strength and Supports Rural America Act would provide regulatory relief to rural telecommunications service providers by allowing them to submit streamlined financial reports to the Securities and Exchange Commission.
These small businesses are often the only service providers in their regions and could be put out of business by looming regulatory costs. The ACCESS Rural America Act would save small businesses from costly SEC reporting requirements that were never intended for them.
“Reliable high-speed broadband is essential to rural families, students, and farmers,” says Baldwin. “Unfortunately, rural telecom companies are getting hit with costly reporting fees that are intended for much-larger companies, threatening to upend their businesses and halt their service to the communities.”