In September 2018, the Trump administration announced that it would end the loan program, saying that the administration was “considering the future of the loan and the Federal Communications Commission’s (FCC) decision to discontinue it.”
The program has since become an important part of the U.S. economy, serving as an alternative to student loans and other government loans, and it is the focus of a number of Congressional inquiries and public policy debates over the years.
The loan program has been under increasing scrutiny over the last year, particularly as the FCC moved to repeal rules that limited the amount of money that the agency could borrow.
“The loan has been a major source of growth for the telecommunications industry, with companies such as AT&T, Verizon and AT&g providing more than $3.2 billion in loans, or about 7 percent of all loan commitments,” wrote the Brookings Institution in a 2017 report titled “A Brief History of the Loan.”
“Since the inception of the program, loan guarantees have grown in value by almost a third, to $5.7 billion, and since the FCC took over, the value of the guarantee has increased by more than 70 percent.”
Under the loan guarantees, telecommunications companies borrow money from the FCC to buy equipment, like equipment that can support fiber-optic cables and other technologies, to create new businesses.
The FCC would then use the funds to help companies that need those investments.
In return, the companies would be given tax credits for the investments.
When the Trump Administration eliminated the loan guarantee program, it was a move that many experts believe would have a significant impact on the industry.
According to a Congressional Budget Office (CBO) report, the program provided $4.7 trillion in direct and indirect tax relief for the economy over the past five years.
The program has also been responsible for helping the U,S.
become one of the top 10 countries in the world in terms of Internet penetration, and for helping to lower the cost of broadband access for millions of people.
A number of congressional investigations have also focused on the program.
In January 2018, Sen. Al Franken (D-MN) and Rep. Ted Lieu (D, CA) announced a bipartisan resolution calling for the elimination of the federal loan program.
The resolution was introduced by Sens.
Mark Warner (D–VA) and John Cornyn (R–TX), along with Reps.
Adam Schiff (D—CA), Maxine Waters (D–CA), and Jerrold Nadler (D -NY).
“The program is a great tool for American entrepreneurs and their companies to expand and create jobs,” the resolution reads.
“But it is also a tool used by our federal government to fund government projects and policies that are not in the best interest of Americans.”
The House Ways and Means Committee released a report in November 2018 that examined the program’s role in creating jobs.
It found that the program “increased the total number of jobs created by the American economy by more then 50,000 in the year following its enactment, which is the largest net job creation since the recession.”
But the study also found that it was difficult to gauge the economic impact of the programs, noting that the FCC and the Department of Homeland Security had no data on how the loan programs have impacted the economy.
For its part, the FCC declined to comment to the Washington Post on its plans to repeal the loan guaranty program, citing privacy laws.
And while some have argued that the loan was unnecessary, others have pointed to a number different factors that helped drive the industry’s expansion, including the fact that the loans allowed companies to buy their way into the market.
But even the most ardent proponents of the loans, like Rep. Mike Rogers (R—MI), said that the programs are still useful.
This loan was designed to support companies that have not invested in the American market and to encourage American businesses to invest here at home and across the country.”