Big Telecoms Made $358 Billion in 2019. Now the FCC Wants to Give Them $9 Billion Taxpayer Dollars.
Last year alone, Verizon, AT&T, and T-Mobile collectively generated over $358 billion dollars in consolidated revenue. Again, that's $358 BILLION DOLLARS.
Now, the FCC wants to give telecom companies $9 billion of our hard-earned taxpayer dollars away to these ultra-rich companies to further expand their 5G footprints via the 5G Rural America Fund. Meanwhile, for decades, consumers like you have been paying miscellaneous service fees and rate increases on landline phone bills that the telecom companies were supposed to use to build out a national fiber-optic network - but they never fulfilled their promise. Instead, they kept billing you and used "creative accounting" to divert the money to construct wireless networks. We call this scheme "Fibergate." (Listen to our recent interview with consumer watchdog, Bruce Kushnick, about the telecom scandal here.)