To watch Senator Capito’s questioning, click here or the image above.
WASHINGTON, D.C. – U.S. Senator Shelley Moore Capito (R-W.Va.), a member of the Senate Committee on Commerce, Science, and Transportation, today participated in a subcommittee hearing on the future of spectrum. During the hearing, Senator Capito discussed how tax increases included in the Democrats’ reckless tax-and-spending bill will delay efforts to close the digital divide in rural communities like those throughout West Virginia and increase internet costs on consumers.
HIGHLIGHTS:
DEMOCRATS’ TAX-AND-SPEND BILL WILL SLOW BROADBAND ROLLOUT: “The Tax Foundation's book minimum tax model estimates that imposing a 15% book minimum tax will increase the tax liability of spectrum license owners by $7.2 billion over 10 years. Like many West Virginians, I'm concerned that this tax increase will delay closing the digital divide, as these companies will have fewer dollars to spend on resources to deploy 5G and other spectrum capabilities. Is it your understanding that enacting the 15% minimum tax on book income as written in the tax and spend bill will raise taxes on Spectrum license holders, thereby raising prices on already financially strapped consumers?”
ENSURING SPECTRUM: “The infrastructure bill set forth a significant investment in high speed Internet and broadband in the U.S., and as a result, more Americans are connecting. How can we ensure, in light of the conversations that we've had today, that there is sufficient spectrum to allow consumers and businesses to fully utilize these broadband networks particularly, as you know, in my state, a lot of unserved and underserved areas?”
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