Congress mulls Internet, wireless tax credits

Sen John Rockefeller (D-WV), a senior Democrat on the Senate Finance Committee, and Sen Olympia Snowe (R-Maine) will offer the amendment to the $825 billion economic package Tuesday, offering a plan to give tax credits to Internet and wireless companies as part of a broad stimulus package to boost the ailing economy. The proposal would provide a 10 percent tax credit to companies that build out high-speed Internet in rural and underserved areas, and 20 percent for those willing to exceed current speeds. Telecommunications companies have been pushing for tax credits, rather than grant money, the route the House of Representatives has taken thus far. "Our concern about tax credits is that they may fund projects that would have been built anyway," said Derek Turner, research director at the public interest group Free Press.