{
  "id": 14853867,
  "title": "US appeals court invalidates federal $9 billion telecom subsidy fund",
  "url": "https://urgent.news/2026/10/16/us-appeals-court-invalidates-federal-9-billion-telecom-subsidy-fund",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-16T02:42:21.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/stock-market-news/us-appeals-court-invalidates-federal-9-billion-telecom-subsidy-fund-4952982"
  },
  "original_language": "en",
  "account": "A U.S. federal appeals court has ruled that the Federal Communications Commission (FCC) exceeded its authority in establishing a telecoms subsidy program in the late 1990s. The Universal Service Fund, which subsidizes basic communications services for consumers in rural and low-income areas, was created by the FCC using funds collected from telecom carriers through a private company called the Universal Service Administrative Co. However, Judge Edith Brown Clement of the Fifth Circuit Court of Appeals found that Congress never authorized the FCC to establish USAC, violating the Government Corporation Control Act. The FCC was considering its response to the decision, which would not take effect for at least two months. The Universal Service Fund draws about $9 billion annually, with the majority of telecoms companies passing the cost onto customers. The fund has been crucial for providing services to low-income and rural areas, Native American tribal lands, schools, libraries, and rural health care facilities.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}