S. 674 proposes changes to the Internal Revenue Code of 1986 to exclude certain grants for broadband deployment from being counted as gross income, effectively making them non-taxable. The bill outlines specific types of grants, such as those from federal and state broadband...
Simple Explanation
S. 674 is a proposed bill that wants to make sure that some special money given for building better internet connections isn't taxed, so companies don't have to pay more taxes when they use that money to make the internet better. But, it also means those companies can't claim extra tax savings for spending that money on their projects.