The Bipartisan Infrastructure Law includes $42.5 billion to enhance access and affordability for broadband infrastructure in the U.S. Broadband expansion and improved access could fuel economic growth and job creation, particularly for rural communities, and lead to better education, health care, and other socioeconomic outcomes. States play a key role in accelerating access and enabling cost-effective and reliable service for residents that could contribute to ongoing credit stability for state governments. Federal funding to U.S. public power and cooperative utilities will jump-start broadband service to underserved areas, but municipal utilities' credit quality could be pressured if broadband investment required to supplement federal funding includes cash infusions and debt that weaken those utilities' financial performance.