House Committee Probes Telecom Subsidy

Law360, New York (July 29, 2008, 12:00 AM EDT) -- AT&T Inc., Verizon Corp., Sprint Nextel Corp. and Alltel Corp. have all come under scrutiny by a U.S. House of Representatives committee that is investigating how the telecommunications companies use a federal subsidy that allocates billions of dollars to them.

Rep. Henry Waxman (D-Calif.), chair of the Committee on Oversight and Government Reform, shot off letters this week to the 24 telecom companies that have received the most money through a subsidy known as the universal service fund, asking how the companies used the financing....
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