00:00It's Benzinga, bringing Wall Street to Main Street.
00:02SpaceX urged the Federal Communications Commission to end the high-cost program
00:07that subsidizes Internet service providers serving rural areas,
00:11according to a May 13th letter obtained by PCMag.
00:15SpaceX said Starlink has effectively been solved connectivity issues
00:20for high-speed broadband access in rural areas,
00:23and argued satellite broadband now delivers performance
00:26comparable to terrestrial broadband at competitive rates.
00:30The company also pointed to Amazon's planned
00:32LEO satellite Internet service launch this year.
00:36SpaceX asked the FCC to redirect high-cost program funding
00:40to other universal service programs.
00:42The letter follows FCC Chair Brendan Carr's comments
00:46that the Biden administration rescinded more than $885 million in Starlink funding
00:52over concerns about the service's ability to provide high-speed Internet.
00:56For all things money, visit Benzinga.com.
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