FCC's Spectrum Auction Approaches $20B in Bids

An anonymous reader writes "After 32 rounds, the FCC has raised more than $18.8 billion in its 700-MHz auction, well surpassing its own early estimates of attracting between $10-15 billion in offers. That's undoubtedly good news for the agency. Since the auction began on Jan. 24, both the FCC and wireless experts have expressed ongoing concerns about meeting those estimates. Once the auction was underway, those worries were compounded by a shaky economic forecast and the possibility of a looming recession."

Comments

Re:FCC '08 Budgetary Resources are $433 Million

[compro01]

As I haven't been following the news very closely, does anyone know where this $20 billion will go? Just like all other government revenue, it'll be put into the general fund under the jurisdiction of congress. The FCC won't get to keep any of it and will have to go ask congress if they want more money.