The chairman of the Federal Communications Commission unveiled plans to repeal a landmark 2015 order that barred internet service providers from blocking or slowing down consumer access to web content. Fred Katayama reports.
The Federal Communications Commission will vote during its meeting in December to repeal the so-called net neutrality rules. The rules were introduced in 2015 by former President Barack Obama. They gave the FCC sweeping oversight over internet service providers. They also classified those companies as public utilities, barring them from blocking or slowing down consumer access to web content. The new order will scale back the FCC's authority and deregulate the web. Apriem Advisors' Ben Lau: (SOUNDBITE) BENJAMIN LAU, CHIEF INVESTMENT OFFICER, APRIEM ADVISORS (ENGLISH) SAYING: "Who is actually using the Internet? And who sucks up the most bandwidth? You look at Netflix, Amazon Video, YouTube they consume about 60 percent of the bandwidth that Americans use. And that's a huge share. And, so, I think, that the government is taking a look at maybe, maybe we can't treat all internet traffic the same." The FCC's plan to repeal the net neutrality rules is a victory for internet service providers, including AT&T, Comcast, and Verizon. The companies say it could lead to billions of dollars in additional broadband investment. It would also eliminate the possibility that a future presidential administration could regulate internet pricing.