Political Quotes

“on this amendment, I am heartily supporting this, especially because not supporting the amendment would be irrational, knowing that the blueprint is in front of us that spectrum does not have the value that is put into this bill. So, if we have a track record that proves that it does not, it is outrageous that we would accept the figures in this budget. Over $26 billion is assumed to be raised from the spectrum auction in the budget. Both the ranking member of the Commerce Committee, Senator Hollings, and myself seriously question whether raising that much money is possible. Unlike fees or taxes, as we all know, spectrum auctions are a function of the free market, and its value is determined solely by supply and demand. Due to the volatility of this market, as we have seen recently, it is virtually impossible to accurately know what spectrum is worth and, since it is planned to be auctioned 5 years from now, what it will be worth. Even the expert agencies, CBO and FCC, have not been able to accurately gauge spectrum value.”