USTelecom Supports Financial Stabilization Legislation October 1st, 2008
Sarah Versaggi

Despite this week’s passage of broadband mapping legislation, which is a critical first step in developing a national broadband policy, the much larger issue on everyone’s mind in Washington right now is on negotiating the terms of emergency legislation to stabilize the U.S. financial system.

Today, USTelecom President Walter McCormick sent a letter to members of Congress calling on them to act expeditiously on the matter.  “Failure to act will jeopardize not just the financial industry,” McCormick wrote, “but also the telecommunications industry and our customers.”  Noting the substantial contribution of the broadband industry to the U.S. economy, McCormick continued, “This investment on broadband represents 20% of the nation’s overall private sector investment. This investment in our future - and the productivity enhancements and improvements to the quality of life that it provides - is being put at risk by Congressional inaction.”For the sake of USTelecom’s members, their customers, and the economy, McCormick concludes, “We ask that Congress support bipartisan Congressional leadership efforts to stabilize the nation’s financial markets. It is imperative that you act responsibly, and act now.”

This entry was posted on Wednesday, October 1st, 2008 at 1:15 pm and is filed under Legislation, Letters, USTelecom Announcements. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.