Lawmakers hope to insert the RUS repricing bill into a big infrastructure investment package.
New round of USDA loans to improve electric infrastructure for 460,000 rural residents, businesses
NRECA CEO Jim Matheson says rural broadband must be in any infrastructure package before Congress.
The RUS repricing bill would provide crucial relief for co-ops hit hard by the COVID-19 pandemic.
Winning bidders will receive funds over a 10-year period to deploy broadband.
NRECA keeps pushing to allow co-ops to refinance federal loans at low interest rates.
Latest USDA loans will go to 10 co-ops in 11 states and improve 3,700 miles of power lines.
Repricing co-ops’ federal debt could help them invest in broadband or replace aging equipment.
An average co-op with typical RUS debt could save $2 million a year in interest at today’s rates