Jonathan Williams: Super-Sizing Benefits of the Big Beautiful Bill
The author is the chief economist of the Federal Communications Commission.
This July marks the one-year anniversary of the Big Beautiful Bill’s enactment. Tens of millions of Americans have already enjoyed bigger tax refunds thanks to this landmark law and other visible benefits like Trump Accounts that continue to kick in.
This is also true at the Federal Communications Commission, where we voted this month to bring an invisible resource to life that will spur hundreds of billions of dollars of economic growth and consumer benefits.
These eye-popping gains are possible because the Big Beautiful Bill restored the FCC’s authority to auction the spectrum—or airwaves—that enable wireless communications. Why is that such a big deal?
Put simply, the FCC’s spectrum auctions are arguably the most effective, pro-markets policy innovation advanced by the U.S. government over the past half-century. Instead of an arbitrary process where federal officials allocated airwaves through inefficient lotteries and administrative hearings, the establishment of spectrum auctions in 1994 meant that market-based forces would now drive spectrum to its highest-value commercial use.
This groundbreaking approach fueled the rapid expansion of the wireless industry and has raised over $200 billion for American taxpayers. I’m hardly alone in praising the merits of this innovation. Spectrum auctions have been adopted by over 100 other countries and the economists behind the FCC’s design were awarded the Nobel Prize.
You personally see the benefit of spectrum auctions every time you use your mobile phone and pay your monthly bill. During President Donald Trump’s first term, the FCC successfully completed multiple auctions of spectrum for 5G services. Most notably, we reallocated 280 megahertz of prime spectrum in the so-called lower C-Band, which raised over $80 billion, making it the highest-grossing auction in American history.
More spectrum for 5G meant more network buildout and more competition. Subsequently, the United States set the pace globally in 5G deployment, and U.S. wireless consumers are currently getting more for less. In 2025, Americans used 32 percent more wireless data than 2024, download speeds got 51 percent faster, and the real cost of these services dropped 6.6 percent.
The deployment of 5G fixed wireless services has had the added benefit of driving down home broadband prices. Based on the FCC’s most recent data, during 2025, six million locations nationwide gained access to fixed wireless service with 100 Mbps download speeds and 5% more locations now have three or more options for high-speed broadband.
Consumers have responded to the intensifying competition and decreasing prices by switching to services that better match their needs, resulting in a 31% increase in fixed wireless subscriptions.
Here’s the problem. The FCC’s spectrum auction authority lapsed under the Biden administration—the first such lapse in three decades. By freezing the pipeline for new commercial spectrum, this created an artificial scarcity that imperiled America’s global competitiveness just as new wireless technologies like 6G and low-earth orbit satellites are emerging and artificial intelligence is creating unprecedented demands for network capacity.
President Trump’s Big Beautiful Bill corrected this mistake, restoring the FCC’s auction authority through 2034 and establishing a firm commitment to make 800 megahertz of spectrum available for commercial use.
So, after years of sitting on the sidelines, the FCC is back to using the familiar and proven playbook of aggressively identifying underused spectrum and putting it up for auction. Just last month, we successfully completed the FCC’s first spectrum auction since 2022, generating $3.5 billion in proceeds for 200 licenses of idle mid-band spectrum. But the Commission is just getting started. And one of the crown jewels is the auction of the Upper C-Band, which the Commission will vote to authorize this week.
The Big Beautiful Bill directed the FCC to auction at least 100 megahertz of prized Upper C-Band spectrum no later than July 2027. The Commission’s proposed auction would repurpose 160 megahertz instead. Freeing up this much high-quality spectrum for commercial use will yield dividends for Americans quickly. One analysis estimates that our proposal could result in over $480 billion in new economic growth, 2.4 million new jobs, and over $620 billion in consumer benefits.
The scale of these estimated benefits from the auction proposal are due to astute decision making and planning that maximize the spectrum’s value for the American people.
First, the FCC is moving fast. We’ve designed an incentive-payment framework for a speedy and fair transition of satellite incumbents that currently use the spectrum. Under this plan, the Upper C-Band can be lit up for most Americans by the end of 2030.
Second, the FCC is giving companies the predictability they need to invest in better wireless for consumers. We collaborated with the Federal Aviation Administration to end the uncertainty and controversy that plagued the previous administration. The FAA has developed rigorous technical safeguards to ensure that communication and aviation systems can safely live side-by-side in the C-Band for decades to come.
Finally, the FCC is delivering spectrum at scale. By harmonizing the Upper C-Band rules with the previously auctioned lower C-Band, we will establish a massive 440-megahertz block of spectrum, or “super band.” This contiguous band plan eliminates the need for costly and complex equipment to deal with fragmentation, thereby accelerating deployment, lowering costs, and supporting next-generation technologies. For consumers, these efficiencies mean lower prices and expeditious access to the most advanced telecommunications services.
The statutory vision of the One Big Beautiful Bill, and the FCC’s execution under Chairman Brendan Carr, has replaced the stagnation of recent years and created tremendous economic momentum. The “super band” is a huge next step to accelerate this progress and ensure America’s telecommunications leadership for future generations.
As chief economist and chief of the Office of Economics and Analytics, Jonathan Williams leads the office that is responsible for expanding and deepening the use of economic analysis in commission policy making, enhancing the development and use of auctions, antitrust analysis in proposed mergers, the biennial Communications Marketplace Report (as well as others), and implementing consistent and effective agency-wide data practices and policies. The FCC chief economist advises the chairman, commissioners, and bureaus and offices on economic issues and works within the agency’s Office of Economics and Analytics.
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