New York Caps the Cost of Broadband for Low-Income Families Users will pay $15 for 25 Mbps internet and $20 for broadband over 200 Mbps.

By S Dent

This story originally appeared on Engadget

New York Governor Andrew Cuomo has signed a bill requiring all internet service providers (ISPs) to offer $15 per month broadband for low-income users, as Bloomberg has reported. That will significantly lower the price for over 7 million people in 2.7 million households who qualify, as the current average monthly price in the state is $50.

ISPs must provide at least 25 Mbps download speeds or their current low-income internet speeds if those are greater. In centers like New York City where speeds tend to be faster, the bill caps the price of high-speed broadband over 200 Mbps at $20 per month.

Related: Troubled With a Spotty Internet Connection? This Router Helps Keep Your Business Thriving.

The 25 Mbps figure is what the FCC has defined as broadband since 2015, though a bi-partisan Senate group recently asked the commission to redefine it as 100 Mbps for both uploads and downloads. Still, low-end households will be paying considerably less for the same service.

On top of the low-income household caps, the state launched the Affordable Broadband Portal to help residents find cheaper internet in their area. Cuomo also announced a partnership with former Google CEO Eric Schmidt to provide free internet to around 50,000 students in economically disadvantaged school districts. ISPs have 60 days to implement the new pricing rules.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

Citigroup Mistakenly Credited a Customer with $81 Trillion Instead of $280: 'Inputting Error'

An employee caught the mistake quickly, but the bank has recently made other errors that have drawn scrutiny and fines from regulators.

Side Hustle

I've Made Hundreds of Thousands of Dollars With a Fun Side Hustle — And You Might Have Seen Me Doing It on TV

Phil Schraeder, CEO at GumGum Advertising, turned a childhood passion into a lucrative side gig.

Science & Technology

The "Lazy" Entrepreneur's Guide to AI: 5 Tools to Run Your Business on Autopilot

Want to run your business on autopilot and escape the 24/7 grind? AI is the "lazy" entrepreneur's secret weapon! In this video, discover five game-changing AI tools to automate work, save time and boost profits.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

HP Is Laying Off Up to 2,000 Employees 'All Over the Company'

HP is aiming to save $300 million through job cuts by October.