Auctioning federal assets to the highest bidder is a smart way to raise a lot of federal revenues and a way to make sure that the resource goes to its highest value-added purpose. Congress should start with spectrum – the invisible airwaves that power mobile phones, Wi-Fi, and other wireless technologies.

Experts say an auction could bring in $100 billion or more to the U.S. Treasury. It would also help juice the U.S. economy by expanding America’s 5G wireless communications. A new report by the economic consulting firm NERA, finds that auctioning 100 megahertz of mid-band spectrum that’s licensed for 5G will boost US GDP by more than $260 billion, and create 1.5 million new jobs

Good news: in years past, Congress has used dollars raised from spectrum auctions to offset tax cuts in reconciliation packages. That’s exactly what they should do again.

“Effectively allocating spectrum to meet the ever-growing need is critical to promoting American innovation and protecting our national security,” Chairman Richard Hudson said yesterday at the first House Energy and Commerce Subcommittee on Communications and Technology hearing of the new Congress.

We agree. It can’t happen soon enough.