[Congressional Record Volume 141, Number 47 (Tuesday, March 14, 1995)]
[House]
[Page H3096]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                         FCC SPECTRUM AUCTIONS

  (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, I want to today applaud yesterday's spectrum 
auction conducted by the Federal Communications Commission. The 
broadband auction for personal communications services resulted in bids 
of more than $7 billion, that is 7 with a ``B'', billion dollars, 
exceeding all previous estimates.
  Pioneer preference licenses to companies using new innovative 
technologies resulted in bids of over $700 million. As many as 300,000 
new jobs will be created as a result of these auctions.
  They have been more than successful than I ever dreamed when I first 
introduced this concept a few years ago in that auction revenues now 
will approach an impressive $9 billion. This is $9 billion that will go 
to the Treasury. Rarely do we see an idea whose time has not only come 
but has produced the kind of revenue to the taxpayers that this 
particular provision has.
  Our full Committee on Commerce tomorrow will consider legislation to 
extend the FCC's auction authority by the year 2000. We plan to 
continue in that vein.

                          ____________________