Biden’s ‘Internet for All’ squeezes small bidders and boosts private equity

I’ve spent my entire life fighting to ensure that Americans from any background, of any color or creed, have the opportunity to fight for their very own American Dream. The Biden presidency has furthered that goal and helped provide opportunities for Americans across the country to succeed. Since the invention of the internet, no administration has focused more on ensuring that everyone has access to a technology that opens doors to a brighter future and provides critical educational tools to every community. However, I am concerned that the implementation of the Broadband Equity Access and Deployment Program (BEAD) by the National Telecommunications and Information Administration (NTIA) may run directly counter to President Biden and Congress’s high hopes for BEAD. For example, NTIA’s “letter of credit” requirement threatens to crowd out all but the best-capitalized incumbent firms. Moreover, the “Build America, Buy America” mandate for many of the physical materials required could raise costs, especially for smaller companies. These burdensome requirements are not meeting the urgent and equitable outcomes President Biden has laid forth in his broadband agenda. In fact, they are paving the road for the intrusion of unscrupulous private equity firms seeking government subsidies to turn a quick profit. For President Biden’s Internet for All dream to become a reality, we must ensure that onerous requirements do not crowd out competition for broadband dollars.

[Rev. Al Sharpton is a civil rights leader and the founder and president of the National Action Network]