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Proceeds From Auctions Held by the Federal Communications Commission 1 (April 21, 2015)

handle is hein.congrec/cbo2215 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Keith Hall, Director U.S. Congress Washington, DC 20515 April 21, 2015 Honorable Dean Heller United States Senate Washington, DC 20510 Re: Proceeds From Auctions Held by the Federal Communications Commission Dear Senator: This letter responds to several questions that you posed about proceeds from certain auctions that have been held or will be held by the Federal Communications Commission (FCC). Those auctions allow commercial firms to acquire the right to use certain portions of the electromagnetic spectrum for communications. To briefly summarize some of the major points mentioned below: * The FCC is planning to hold a two-sided auction-known as an incentive auction-that will provide an opportunity for television broadcasters to voluntarily sell their spectrum rights and for wireless firms to buy licenses to use those frequencies. * Because the FCC has not conducted such an auction before, it is difficult to predict what the net proceeds of the auction will be. The Congressional Budget Office estimates that the net proceeds will probably be between $10 billion and $40 billion, with an expected value of $25 billion, the middle of that range. * Under current law, CBO expects that most of those receipts will be deposited in the general fund of the Treasury and will be applied to deficit reduction. * CBO expects that most of the receipts will be recorded in the budget about a year after the start of the auction. * To the extent that the actual proceeds differ from CBO's estimate, future budget deficits will be larger or smaller than CBO currently projects, and www.cbo.gov

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