On June 6, Federal Communications Commission Chairman Tom Wheeler will be in Pikeville for the SOAR summit to discuss the future of broadband in Kentucky and across the United States. His remarks are likely to turn into a pep rally for government-owned broadband.
Taxpayers shouldn’t cheer.
Government-owned broadband already has harmed Kentucky taxpayers. A few years ago, a handful of lawmakers dreamed up a plan for a statewide “middle mile” network calledKentuckyWired. The network would largely be financed by taxpayers, but managed by an Australian financing firm. The total cost of the project is pegged at more than $300 million with the state issuing $289 million in bonds to finance the project. State taxpayers would be on the hook for $30 million while federal taxpayers will kick in another $23.5 million. Continue reading