The news: The U.S. government has announced over $42B in federal funding to expand high-speed internet access across the country, targeting the digital divide in underserved areas. Why it matters: It's one of the biggest-ever infusions of federal money for bringing disconnected businesses and households online. Currently, 8.5 million homes and small businesses, representing more than 7% of the country, lack broadband internet access, defined as minimum download speeds of 25 megabits per second and upload speeds of 3 Mbps. What's next: The funds, already allotted by Congress and managed by the Department of Commerce, will be doled out over the next two years through the Broadband Equity, Access, and Deployment (BEAD) program. States and territories can begin applying for funds from July 1, with 20% of the award opening up upon approval. What the numbers say: The fresh funding will be allocated based on the FCC's updated broadband maps that show connectivity gaps. Each state will receive at least $107M, with 19 states receiving over $1B. U.S. territories were also promised at least $25M. Texas is set to get over $3.3B, the largest award, while California may take in more than $1.8B.
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