Verizon won’t invest its $16.8 billion tax savings in broadband infrastructure

Verizon won’t use the $16.8 billion it saved from Republican tax reform to invest in broadband infrastructure. In 2017, Verizon reported $17.2 billion of capital expenditures, or money spent to maintain and improve the business. Verizon’s projected capital expenditure for 2018? Between $17 and $17.8 billion. In other words, not significantly more than last year – and maybe less.

Verizon’s announcement undercuts arguments that Trump’s FCC made for repealing net neutrality and conservatives make for slashing corporate taxes.

Links:

Verizon won’t be using tax cut to boost spending on network upgrades (Ars Technica, Jan. 23, 2018)

CWA: FCC vote will damage free and open Internet (Speed Matters, Dec. 14, 2017)