Warner, Others Refile Bill to Not Count Some Broadband Grants as Taxable Income
Senate Intelligence Committee Chairman Mark Warner, D-Va., and House Ways and Means Tax Subcommittee Chairman Mike Kelly, R-Pa., led refiling Thursday of the Broadband Grant Tax Treatment Act in a bid to ensure broadband funding from the Infrastructure Investment Jobs…
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Act, American Rescue Plan Act and Tribal Broadband Connectivity Fund doesn’t count as taxable income. The measure, first filed last year (see 2209290067), would amend the Internal Revenue Code to say broadband grants enacted via either statute don’t count as “gross income.” Sen. Jerry Moran, R-Kan., and Rep. Jimmy Panetta, D-Calif., are lead co-sponsors. There have been “significant strides to ensure that access to high-speed internet is available to more Americans than ever,” Warner said. “But taxing broadband investment awards diminishes our efforts. This legislation ensures that individuals and businesses are able to reap the benefits of every dollar set aside for broadband expansion and deployment so that we can accomplish our goal of bringing reliable broadband to every corner of Virginia.” The measure “ensures federal grant dollars, especially those made available to local governments through pandemic relief funding, will give constituents the best return on their investment,” Kelly said. Warner’s office noted several telecom industry groups back the measure, including the Competitive Carriers Association, CTIA, Incompas, NTCA and USTelecom, the Wireless ISP Association and WTA.