Luria backs legislation promoting rural electric, telecom initiatives
Congresswoman Elaine Luria (D-VA) has announced her support of the Flexible Financing for Rural America Act of 2020 (H.R. 7483), which would allow rural electric and telecommunications providers to request an adjustment to their interest rate or loan under the Rural Utilities Service.
“As a representative of rural areas, I know how critical it is that we allow electric and telecommunications providers change their loans and interest rates so they can continue providing connectivity across our community,” said Luria. “By allowing this flexibility, smaller rural providers can refinance their debt so that they can stay afloat and provide a critical utility in the time of COVID-19.”
This legislation has the support of rural power providers, such as A&N Electric Cooperative, an Eastern Shore member-owned electrical distribution cooperative which provides power to over 35,000 homes, farms, and businesses in Accomack and Northampton counties.