"Every day we hear politicians talk about the importance of paying down our national debt and getting our fiscal house in order. But what we don't hear are any concrete proposals to do that," said Congressman Barrow. "This bill seeks to change that. It aims to make the most out of technology that millions of folks rely on today, while at the same time reducing our national debt."
Barrow's bill would generate a new revenue stream that would benefit both holders of unused broadcast spectrum and the American taxpayers.
Under Barrow's legislation, the Federal Communications Commission would conduct an inventory of the broadband spectrum to identify how much bandwidth is currently unused. Owners of unused bandwidth could then voluntarily offer portions of their bandwidth up for auction. Upon completion of the auction, which would be administered by the FCC, a portion of the revenues generated would go to the original owners, while a majority of the revenues would be returned to the U.S. Treasury for the purpose of paying down the national debt.
"Paying down our national debt is one of the most important ways that we can strengthen our economy," Barrow said. "Rather than just talking about it, this bill is a new way for us to start doing it. I look forward to working with my colleagues on both sides of the aisle to see it through the legislative process."