Biden's $42B Internet Initiative: Which Among 19 States Receiving Over $1B Gets The Most?

President Joe Biden’s administration announced that it would be distributing $42 billion throughout the 50 states as part of an initiative to bring high-speed internet access to every single American household by 2030.

The funds were already set aside by Congress as part of the Bipartisan Infrastructure Law. 

Each state will receive at least $100 million, with some receiving more than $1 billion. States that currently have more residents without internet than average, like Georgia, Kentucky and Florida, will receive large chunks of the funds. Texas, because of its massive population and numerous rural areas, will receive the most of any state, more than $1.8 billion. 

Also Read: Does YouTuber MrBeast Own $PEPE Coin? Here's The Link A Twitter User Found

Internet service providers, like Comcast Corp CMCSA,Cisco Systems Inc CSCO, and AT&T Inc T are trading up Tuesday on the announcement. 

States Receiving More Than $1 Billion For Expanding Internet Access

• Alabama ($1.4b)
• Alaska ($1b)
• Arkansas ($1b)
• California ($1.8b) 
• Florida ($1.2b) 
• Georgia ($1.3b) 
• Illinois ($1b) 
• Kentucky ($1.1b) 
• Louisiana ($1.4b) 
• Michigan ($1.6b)
• Mississippi ($1.2b) 
• Missouri ($1.7b) 
• North Carolina ($1.5b) 
• Pennsylvania ($1.2b) 
• Texas ($3.3b) 
• Virginia ($1.5b)
• Washington ($1.2b)
• West Virginia ($1.2b)
• Wisconsin ($1.0b)

A White House press release states that in addition to bringing internet access to every American, the initiative will also create manufacturing jobs and stimulate the economy by using materials made in America. Fiber optic manufacturers CommeScope and Corning each announced major expansions of their manufacturing operations in the U.S., creating hundreds of well-paying jobs. 

To learn more about Biden’s new internet initiative, check out the fact sheet here.

Now Read: It's A Bear Market FOMO Bubble In Early Stage Of Collapse, Warns Hedge Fund Manager Who Foresaw 2008 Crisis

Photo: Shutterstock