We use the Higgs mechanism to investigate connections between higher-rank symmetric U(1) gauge theories and gapped fracton phases. We define two classes of rank-2 symmetric U(1) gauge theories: the (m, n) scalar and vector charge theories, for integer m and n, which respect the symmetry of the square (cubic) lattice in two (three) spatial dimensions. We further provide local lattice rotor models whose low-energy dynamics are described by these theories. We then describe in detail the Higgs phases obtained when the U(1) gauge symmetry is spontaneously broken to a discrete subgroup. A subset of the scalar charge theories indeed have X-cube fracton order as their Higgs phase, although we find that this can only occur if the continuum higher-rank gauge theory breaks continuous spatial rotational symmetry. However, not all higher-rank gauge theories have fractonic Higgs phases; other Higgs phases possess conventional topological order. Nevertheless, they yield interesting novel exactly solvable models of conventional topological order, somewhat reminiscent of the color code models in both two and three spatial dimensions. We also investigate phase transitions in these models and find a possible direct phase transition between four copies of Z(2) gauge theory in three spatial dimensions and X-cube fracton order.