USA: The subsidy fund for rural phone service had reached an all-time high at 13% of interstate telecoms revenues

[Dow Jones] A subsidy fund designed to help phone carriers offer service in rural areas has mushroomed to an all-time high - 12.9% of interstate telecommunications revenue, up from 9.5% in the beginning of the year, the Federal Communications Commission announced Monday.

That means that consumers' phone bills will increase slightly on July 1, the start of the third quarter. The FCC's announcement forecasts a change that carriers will need to make to customers' phone bills effective on that date.

US Subsidy Fund For Rural Phone Service Reaches All-Time High