STEVE FORBES, STEPHEN MOORE: America must free its airwaves before China pulls ahead

Washington rarely discovers an economic policy that promotes investment, strengthens national security, improves services for consumers and raises billions of dollars for the Treasury without imposing a new tax. Federal Communications Commission Chairman Brendan Carr’s newly announced "super band" spectrum auction manages to do all four.

Spectrum may be invisible, but it is among the most valuable resources in the modern economy. It carries phone calls, financial transactions, emergency communications...