[Congressional Record Volume 140, Number 104 (Tuesday, August 2, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: August 2, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                  FCC AIRWAYS AUCTIONS A HUGE SUCCESS

  (Mr. OXLEY asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. OXLEY. Mr. Speaker, the Federal Communications Commission's first 
spectrum auction ended last Friday, and the figures on revenue raised 
thus far for the U.S. Treasury are impressive.
  I sponsored the legislation that paved the way for these sales, and I 
had the honor of gaveling-in Friday's auction. The bidding was for 
licenses to use the airwaves for the next generation of paging and 
messaging services.
  The American people will benefit both as consumers and taxpayers, 
with the Government gaining much-needed revenue by auctioning off a 
valuable public resource, rather than dipping into the paychecks of 
American workers.
  The bidding resulted in $617 million pledged to the U.S. Treasury, a 
windfall which exceeded expectations. Analysts now believe that the 
Government will net more than the $12.6 billion forecast to be raised 
over the next 5 years.
  I want to commend the FCC on its administration of the bidding, and I 
want to thank Chairman Dingell and all those who supported my 
legislation to implement these highly successful auctions.
  Mr. Speaker, this has been a huge success, using market forces to 
benefit the consumers and the taxpayers.

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