Yahoo Finance reports…
The Biden administration announced Monday that 20 leading internet service providers have agreed to offer basic low cost plans that will be free for millions of Americans after a refund.
The 20 companies, including AT&T (T), Comcast (CMCSA), and Verizon (VZ), cover more than 80% of the U.S. population. They will immediately provide at least one plan that costs no more than $30 a month and provides download speeds of at least 100 mbps.
The White House says that 40% of the U.S. population, about 48 million households, will be eligible to sign up through an existing program called the Affordable Connectivity Program (ACP). The program is aimed at lower income Americans and offers participants a discount of up to $30/month on their internet bill, meaning they’ll effectively get free service if they can get online with one of these participating companies.
AT&T CEO John Stankey said his company’s new plan “when combined with federal ACP benefits, provides up to 100 Mbps of free internet service.”