Publisher's Synopsis
Excerpt from Implementation of the Fcc Spectrum Auctions: Hearing Before the Committee on the Budget, House of Representatives, One Hundred Third Congress, Second Session; September 29, 1994; Serial No. 103-26
We used to give away this resource, but the Omnibus Budget Reconciliation Act of 1993 changed that, when Congress gave the Federal Communications Commission authority to auction off li censes for portions of the communications Spectrum. In that bill, we acknowledged that taxpayers should get some return for use of this valuable resource, and we estimated that fcc auctions would bring in more than $10 billion to the Federal Treasury over the next 10 years.
The fcc has moved rapidly to implement this, holding its first two auctions in late July. By any reasonable measure, the auctions have been a spectacular success, despite some problems which the fcc is trying to correct. The important point is that the first two auctions are still expected to collect more than $750 million for American taxpayers - far more than most had expected - for spec trum the fcc had previously given away.
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