Senate Chops Some Broadband Tax Credits in Stimulus

As Congress wrangles over the details of an economic stimulus package, support for broadband buildouts is taking a hit.

Last night, the Senate decided to make tax credits available only for broadband service in rural and unserved markets. The move eliminates the possibility for Verizon Communications Inc.(VZ), for one, to claim a tax break in low-income areas where it already plans to build.

Overall, the changes proposed so far still leave $7.5 billion for broadband in the Senate version of the economic stimulus bill; the House version includes a mere $6 billion. Many observers are arguing, though, that neither of those amounts is sufficient.

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