President Barack Obama today offered an ambitious and sweeping program designed to bring ultra-high-speed broadband networks to 99% of the nation's schools within five years by relying on the E-Rate program -- also known as the Schools and Libraries Program -- to subsidize the project. Obama visited a school in Mooresville, N.C., to announce his proposal, dubbed ConnectED. Obama has asked the Federal Communications Commission to revamp the E-Rate program.

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