Sen. Capito introduces Gigabit Opportunity bill

Senator Shelley Moore Capito (R-WV) introduced the Gigabit Opportunity Act, a bill that aims to accelerate the deployment of high-speed broadband through tax incentives. The bill, which Sen. Capito says will encourage high-speed Internet deployment to low-income and rural communities, would allow companies to accelerate depreciation of broadband investment, encourage streamlined broadband deployment policies, and allow companies to defer capital gains for network upgrades.

Capito's office says the bill stems from the senator's work with FCC Chairman Pai, who already released a statement praising the bill, concluding that "with targeted tax incentives and regulatory streamlining, the GO Act aims to remove the major barriers holding back Internet access in economically challenged areas."

Chairman Pai introduced the idea of “Gigabit Opportunity Zones” in a speech late last year in Cincinnati, where he introduced his Digital Empowerment Agenda. Pai suggested that lower-income communities where lawmakers streamline broadband deployment policies qualify as “Gigabit Opportunity Zones.” Then, he continued, private companies would receive tax breaks for deploying broadband and employers would get a tax credit for new hires in areas that qualify – hence Capito’s legislation.

Links:

Gigabit Opportunity Zones Bill Introduced (Multichannel News, May 3, 2017)

Chairman Pai’s Cincinnati speech (FCC, Sept. 13, 2016)

Chairman Pai’s Digital Empowerment Agenda (FCC, Sept. 13, 2016)