12/08/2024
Dec. 5, 2024: ACCESS Rural America Act Passes in the U.S. Senate
Sen. Tammy Baldwin (D-WI) and Sen. Joni Ernst (R-IA) lead the bipartisan legislation, which was also co-sponsored by Sen. Krysten Sinema (I-AZ), Sen. Kevin Cramer (R-ND), and Sen. Chuck Grassley (R-IA).
The legislation expands access to broadband in rural areas by easing the burden of regulatory costs for smaller broadband providers that rural communities rely on.
The ACCESS Rural America Act provides regulatory relief to rural telecommunications service providers by allowing them to submit streamlined financial reports to the Securities and Exchange Commission (SEC). These small companies—many of which are the sole service providers in their region—could be put out of business by regulatory costs and unnecessary red tape. Specifically, this bipartisan legislation would create an exemption from certain SEC public registration and reporting requirements for rural telecommunications companies. This will save these small companies from costly and burdensome requirements that were never intended for them.
The bill, titled the Access to Capital Creates Economic Strength and Supports (ACCESS) Rural America Act, will now head to the U.S. House of Representatives.
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Telecommunications industry leaders are applauding the passage of the ACCESS Rural America Act in the U.S. Senate.