Addressing the needs and concerns of rural Georgians was one of the key platform issues of 2018 – many prognosticators have said Gov. Brian Kemp won both the primary and general election by virtue of prioritizing it. The subject is far from limited to the Peach State though, as politicians across the country have turned their focus to making sure rural residents get access to healthcare, broadband, and education: key areas where they have often fallen behind their urban-dwelling neighbors.
U.S. Rep. David Scott
U.S. Rep. David Scott (D-Atlanta) on Tuesday stepped forward to do his part in helping rural Americans, introducing H.R. 2391, the “Improving Rural Access to Power Act of 2019″ alongside Rep. Denver Riggleman (R-VA).
The legislation looks to amend the Federal Home Loan Bank Act to allow rural electric cooperatives, major power providers for rural areas, to more easily secure capital and investment to expand and fund critical broadband infrastructure. Electric cooperatives were created by the New Deal under President Franklin Roosevelt to help bring power and telephone lines to rural areas that were at the time not served. Many of those organizations still operate today, but they face financial and logistical difficulties in providing service to much more spread out areas than seen in cities.
Specifically the bill would explicitly allow Federal Home Loan Banks to voluntarily purchase securities from a rural utility financing cooperative, which under current regulations is not officially allowed or disallowed for FHLBs. Making those purchases fully legal and acceptable would allow cooperatives to access additional funding.
Said Scott on the legislation, “Rural communities in my District, the State of Georgia and all across the country rely on safe and reliable energy resources to power their daily lives. From small businesses and schools to farms and community centers, these electric cooperatives play a vital role in improving energy access and infrastructure.”
The bill has been referred to the House Committee on Financial Services, of which Scott is a member.
