‘Just as important as electricity or water’: Biden said the US will spend $42B to give ‘every person in America’ access to the internet by 2030 — here are 3 stocks to pounce on
‘Just as important as electricity or water': Biden said the US will spend $42B to give 'every person in America' access to the internet by 2030 — here are 3 stocks to pounce on Yahoo Finance
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The Importance of Universal Internet Access in Achieving the Sustainable Development Goals (SDGs)
The definition of “Bidenomics” recently expanded to include a new concept: universal internet access.
In late June, President Joe Biden announced a new program that would deploy $42 billion to get “every person in America” online by 2030.
Overview of the Broadband Equity Access and Deployment (BEAD) Program
In his remarks at a White House briefing announcing the program, Biden called access to the internet “just as important as electricity or water.” The funds will be deployed under the BEAD program, which was authorized by the Biden administration’s $1 trillion 2021 infrastructure package. Funding will go to all 50 states, with California and Texas receiving the largest sums. States with large rural areas that lack connectivity, such as Virginia, Alabama, and Louisiana, are also among those set to receive top-level funding.
“It’s the biggest investment in high-speed internet ever,” Biden said.
Stocks to Consider for Growth in Universal Internet Access
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Comcast
With 31.7 million subscribers, Comcast is already the largest cable broadband provider in the U.S. That puts it in a strong position to benefit from the Biden administration’s recent push for universal internet access. Comcast has already benefited from the 2021 Affordable Connectivity Program, a $14-billion federal fund that has provided over 19 million households with a monthly subsidy of $30 or more to help cover broadband bills. Comcast stock is up 27% year to date.
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AT&T
AT&T is another company that could benefit from the Biden administration’s push for internet access. The company already operates the nation’s largest network of fiber-optic cables, which are connected to millions of consumer addresses, corporate buildings, and business customer locations across the U.S. Government subsidies could ease the burden of maintaining and expanding this network. AT&T stock is down 22% year to date.
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Charter Communications
With 28.9 million wired broadband customers, Charter Communications is the second-largest wired internet provider in America. Like Comcast, the company saw a windfall of government-backed income thanks to the Affordable Connectivity Program, and it remains in a strong position to capitalize on the new BEAD program. Charter is also investing over $5.5 billion to improve speeds across its network. Charter stock trades at a price-to-earnings ratio of 13 and the stock price is up 19% year to date.
Conclusion
Universal internet access is crucial for achieving the Sustainable Development Goals (SDGs) set by the United Nations. It promotes economic growth, reduces inequalities, and enhances access to education, healthcare, and information. The Biden administration’s commitment to providing internet access for all Americans by 2030 is a significant step towards achieving these goals. Companies like Comcast, AT&T, and Charter Communications are well-positioned to benefit from this initiative and contribute to the advancement of the SDGs.
Disclaimer
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
SDGs, Targets, and Indicators
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SDG 9: Industry, Innovation, and Infrastructure
- Target 9.c: Significantly increase access to information and communications technology and strive to provide universal and affordable access to the internet in least developed countries by 2020.
- Indicator 9.c.1: Proportion of population covered by a mobile network, by technology.
- Indicator 9.c.2: Proportion of households with access to the internet.
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SDG 4: Quality Education
- Target 4.c: By 2030, substantially increase the supply of qualified teachers, including through international cooperation for teacher training in developing countries, especially least developed countries and small island developing States.
- Indicator 4.c.1: Proportion of teachers in pre-primary education who have received at least the minimum organized teacher training (e.g., pedagogical training) pre-service or in-service required for teaching at the relevant level in a given country.
Analysis
The article discusses President Joe Biden’s announcement of a program to provide universal internet access to every person in America by 2030. This aligns with SDG 9, which focuses on industry, innovation, and infrastructure, specifically target 9.c to provide universal and affordable access to the internet. The article mentions that the program will deploy $42 billion under the Broadband Equity Access and Deployment (BEAD) program, authorized by the Biden administration’s infrastructure package. This investment in high-speed internet aligns with the target of increasing access to information and communications technology.
The article also indirectly relates to SDG 4, which focuses on quality education. Target 4.c aims to increase the supply of qualified teachers, including through international cooperation for teacher training. Access to the internet can enhance educational opportunities and resources for students and teachers, contributing to the goal of quality education. However, the article does not provide specific information about teacher training or international cooperation in this context.
The indicators mentioned in the article are relevant to measuring progress towards the identified targets. Indicator 9.c.1, which measures the proportion of the population covered by a mobile network, is indirectly related to the goal of universal internet access. Indicator 9.c.2, which measures the proportion of households with access to the internet, directly aligns with the target of providing universal and affordable access to the internet. The article does not mention any indicators related to SDG 4.
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.c: Significantly increase access to information and communications technology and strive to provide universal and affordable access to the internet in least developed countries by 2020. | Indicator 9.c.1: Proportion of population covered by a mobile network, by technology. Indicator 9.c.2: Proportion of households with access to the internet. |
| SDG 4: Quality Education | Target 4.c: By 2030, substantially increase the supply of qualified teachers, including through international cooperation for teacher training in developing countries, especially least developed countries and small island developing States. | Indicator 4.c.1: Proportion of teachers in pre-primary education who have received at least the minimum organized teacher training (e.g., pedagogical training) pre-service or in-service required for teaching at the relevant level in a given country. |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: finance.yahoo.com
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