Telecomm ACT of 1996's 10th Anniversary

Thursday, Feb. 9, 2006
Happy 10th Birthday, Telecom Act

Senate Commerce Committee Chairman Ted Stevens yesterday marked the 10th anniversary of the Telecommunications Act of 1996 by saying his committee is developing legislation that would increase broadcast indecency fines as part of its ongoing rewrite of the landmark act. While it remains to be seen what, if any, changes will be made to the current radio ownership limits, Stevens said lawmakers are mindful that changes to the FCC's media ownership laws will affect businesses.
"Our goal should be to get government out of the way, to encourage revenue growth, lower costs, cut red tape, and minimize government intervention in private agreements between entrepreneurs and their banks," Stevens said at a Wachovia-sponsored forum in Washington. "We want to encourage risk-taking; it's essential that that be part of this result."
Stevens said his committee plans to host a total of 15 hearings on the Telecom Act's rewrite, and promised the investment and securities crowd in attendance that the final session would be devoted to Wall Street. He added, "Congress can write laws, but if we fail to assure how this legislation will affect the American economy, we fail to achieve our mission."