Treasury Department Expects Majority of Capital Projects Funds Will Be Spent on Fiber

The director of the Department of Treasury’s Capital Projects Fund for broadband expansion projects in response to the coronavirus pandemic said that most dispensed funds will ultimately go towards fiber broadband projects. The Capital Projects Fund was established from the reserve of $10 billion dedicated to capital projects enabling work, education and health monitoring when President Joe Biden’s American Rescue Plan Act (ARPA) was passed in March 2021. Recently, questions have arisen surrounding whether Treasury’s 2026 deadline for ARPA funds to be disbursed provides enough time for all projects to receive their necessary federal funding. Fund director Joseph Wender spoke on how what type of technology he thinks broadband funds from the program will be directed towards. Wender stated that the Treasury is encouraging that fund broadband projects be built with fiber because it is a future-proof technology. “We have put our thumb on the scale for fiber,” said Wender.