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Simpson Shows Support for Critical Rural Utility Services

Simpson Shows Support for Critical Rural Utility Services

Washington, D.C. – Yesterday, Idaho Congressman Mike Simpson signed on as a cosponsor of H.R. 2244, the Flexible Financing for Rural America Act, legislation that would allow rural electric cooperatives and rural broadband providers the ability to refinance their Rural Utilities Service (RUS) debt at lower interest rates, and, in turn, reinvest in rural communities and pass savings on to customers.

“Many Idahoans rely heavily on rural electric cooperatives and rural broadband providers to deliver electricity and internet to their homes,” said Simpson.  “Allowing these utility service providers to refinance their federal loans will give them the flexibility they need to reinvest in Idaho’s rural communities.  I am proud to support this bipartisan, commonsense legislation that will give providers the ability to continue to support and serve our most rural communities.”

Under current law, RUS charges a significant penalty when borrowers refinance their loans.  Savings from this legislation would help sustain organizations through economic challenges brought on by the COVID-19 pandemic and empower greater investment in local communities.

“It’s crucial that we address the needs of our rural communities, so supporting the providers who provide affordable electricity and reliable broadband access is critical,” said Simpson. “Reliable broadband is not a luxury for our rural communities, it’s a necessity, and I will continue to support measures that help our rural communities and work to ensure the federal government supports, rather than hinders, the ability of rural residents to access critical utility services.”

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