Treasury Announces More Than $540M for California High-speed Internet Projects
Through the American Rescue Plan’s Capital Projects Fund (CPF), the allocation of $540.2 million made by the United States Department of the Treasury for high-speed internet project across the state of California was the largest single infusion of broadband funding to a state under CPF.
According to Financial Regulation News, California is slated to use the funds to connect approximately 127,000 homes and businesses to affordable, high-speed internet, according to the Treasury Department. One of the CPF program’s priorities is making funding available for broadband infrastructure.
“This major commitment reflects President Biden’s strong belief that universal, affordable high-speed internet in every school, home, small business and community — urban or rural — must today be considered an absolute necessity for educational and economic opportunity,” White House American Rescue Plan Coordinator Gene Sperling said.
