AP
FCC chairman Tom Wheeler.
It will almost certainly pass.
FCC chairman Tom Wheeler gave a preview of the proposal in an $4 earlier this month.
It would regulate both wired and wireless broadband under something called Title II, which means internet service would be classified as a utility just like phone lines.
However, the proposal has certain restrictions to tamp down fears from internet service providers (ISPs). For example, the proposal does not give the FCC authority to regulate pricing of internet service like it could with phone service. The FCC had authority to regulate phone pricing because phone companies had a monopoly. The FCC's net neutrality proposal clearly doesn't view ISPs as monopolies.
This is a big win for net neutrality advocates.
Net neutrality is the concept that all content should be able to flow through the internet at the same speed. If rich companies are allowed to pay (ISPs) for faster access to customers, it'd give them an unfair advantage over smaller companies that may have a better product. It would effectively keep those companies from being able to compete on a level playing field.
It's not over. The telecom companies like Verizon, Comcast, and AT&T are likely going to try and fight the FCC's proposal. In fact, $4. Congress will likely take action on net neutrality in the coming months. Meanwhile, the FCC will have to release the full proposal - which is reportedly over 300 pages - so people can look it over and submit comments.