Introduction of "Digital Opportunity Investment Trust"

INTRODUCTION OF ``DIGITAL OPPORTUNITY INVESTMENT TRUST'' -- (Extensions of Remarks - May 20, 2005)

SPEECH OF
HON. EDWARD J. MARKEY
OF MASSACHUSETTS
IN THE HOUSE OF REPRESENTATIVES
THURSDAY, MAY 19, 2005

* Mr. MARKEY. Mr. Speaker, I rise to join my good friend and colleague Rep. RALPH REGULA (R-OH) in introducing the ``Digital Opportunity Investment Trust Act.''

* Mr. Speaker, I have long believed that when the Federal Communications Commission decides to proceed with auctions as a means of granting licenses to the public's airwaves, that the public deserves to reap the benefits. These benefits should manifest themselves not only in the more rapid offering of new, competitive commercial wireless services or the deployment of technological innovations, but also in the ``dividends'' that can be reaped by re-investing the auction money wisely. The legislation we are introducing today, proposes taking auction revenue and creating a permanent trust fund in order to fund grants for public interest telecommunications initiatives. I believe harnessing this resource and re-investing it for such initiatives will be vital to our national economic security and for leaving to the next generation the cultural and educational assets of our great country in an accessible digital form.

* Mr. Speaker, ensuring that the research and development into the software and telecommunications tools that will animate the technologies for use in classrooms and workplaces around the country is a sound investment. Making available additional resources for public televisions and radio stations for their needs in the digital era is also vital. Finally, our nation's libraries, museums, universities are great repositories of information and possess the tremendous wealth of our cultural heritage. These treasurers can and ought to be digitized in a way that makes them accessible to all our citizens, both online and over-the-air using our national public broadcasting system. This will help to ensure we have an informed and skilled citizenry for our civic institutions. Putting these great educational resources at the heart of the technological transformation our society is undergoing will strengthen our democracy in fundamental ways.

* For all of these reasons, I believe we must rise to the challenge of funding advanced research and development for education and technology training in a way that reflects the urgent need to do so and the current, inadequate resources being put to these efforts. Telecommunications technology has an awesome potential to affect change positively by driving economic growth, preparing our citizens for the tough challenges ahead, and enriching our democracy. Yet without a plan, it will remain just that--merely the ``potential'' and ``promise'' but not the reality. That's why I believe we ought to reinvest the auction resources we obtain from winning bidders to the public's airways. A permanent trust fund built from these funds will go a long way in meeting the need and that is what our legislation is designed and intended to do.

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