On thursday, the President announced ConnectEd – a program aimed at the digital needs of K-12. Here is a pdf that explains the focal points of the program.
The program identifies three target areas – high connections for schools (I see nothing about home, but specific mention is made of rural schools), better support and training for existing teachers, and encouraging private partnerships. Funding is a little vague. It appears that connectivity is the responsibility of the FCC and e-rate. The text of the announcement also describes better use of existing educational funds.
My read is that the value here is in the statement of goals which may encourage certain uses of existing funds. It appears this is a message for states, but there is nothing I see in the allocation of tax funds. I think the e-rate makes use of money collected from you and me through the telcos.