What are the implications if the FCC brings back Net Neutrality rules?

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I saw a short article about it this evening, but tbh I didn’t pay much attention to the Net Neutrality stuff from years ago so I don’t fully get it. What are the effects if it changes (or doesn’t)?

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The proposed rules from the Federal Communications Commission will designate internet service — both the wired kind found in homes and businesses as well as mobile data on cellphones — as “essential telecommunications” akin to traditional telephone services, said FCC Chairwoman Jessica Rosenworcel. The rules would ban internet service providers (ISPs) from blocking or slowing down access to websites and online content.

In addition to the prohibitions on blocking and throttling internet traffic, the draft rules also seek to prevent ISPs from selectively speeding up service to favored websites or to those that agree to pay extra fees, Rosenworcel said, a move designed to prevent the emergence of “fast lanes” on the web that could give some websites a paid advantage over others.

From CNN…

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