Managed by the FCC
Congratulations, Pai, you've managed to find another way to help your friends in the telecoms industry. Why should the government subsidize replacing equipment ? Because everyone agrees with government intervention when the government pays for it. But when the government wants medicare for all and reaches into the pockets of the rich and influential, then its "governmental meddling" and anti-American and all that bullshit.
Oh well, I'm sure that you'll manage that money very efficiently to help your poor, poor telecom friends.