As expected, on Thursday a sharply divided US FCC ruled 3-2 to classify high-speed Internet as a telecommunications service under Title II of the Communications Act, therefore subjecting it to “common carrier” regulations like those which apply to telephone service. This ruling restores DSL Internet to its status prior to 2005 but now adds cable to this classification. It also restores essentially the same “open Internet” rules that had been in effect from 2010 until a court overturned them on a technicality in 2014.
Contrary to some cable lobbyist-fueled media hype, this is not a “government takeover of the Internet” like the overturned 1990’s Communications Decency Act, nor an “Obamacare for the Internet” analogous to the Reagan-era Lifeline telephone subsidy. There is no plan for an “Internet tax” but, surprisingly, there is also no effort to promote competition for wireline Internet service, such as through an unbundling requirement. Indeed, the FCC ruling merely preserves the status quo of a lightly regulated, corporate-controlled Internet duopoly.
Yahoo! Finance summary of the new ruling: http://finance.yahoo.com/news/fcc-adopts-net-neutrality-rules-to-ban-internet-discrimination-163703235.html
Xbiz notes that the FCC ruling could protect adult websites from ISP censorship: http://www.xbiz.com/news/web/191648
Gigaom details an egregious example of misleading ISP marketing which might come under FCC regulation: https://gigaom.com/2015/02/19/dont-let-att-mislead-you-about-its-29-privacy-fee/