Political Quotes

“I commend the Senate Appropriations Committee for including $7 billion in the Reinvestment and Recovery Act for the Department of Commerce to improve broadband access in our country. This new program should bring broadband to unserved and underserved areas in Vermont and other rural parts of our country. That access is crucial to the vitality of rural communities which are in danger of being left off the technology highway. During deliberation of the reinvestment and recovery bill over the past week, I offered amendment No. 332 to set aside $100 million within the available $7 billion to provide loan guarantees for broadband construction. The program established in the underlying bill currently will fund only grants. These grants will be an important pillar of any financing for a national build out of broadband. However, loan guarantees are another important financing option to construct broadband networks. That is why I am offering this amendment to set aside less than 2 percent of the $9 billion for grants to establish a loan guarantee program. Creating a loan guarantee program alongside the grant program has the benefit of leveraging billions of additional dollars in broadband investment. The $100 million that my amendment would have set aside would have leveraged up to $2 billion in additional broadband initiatives.”