FCC Approves Net-Neutrality Rules Despite Republican Objections

The Federal Communications Commission voted 3-2 to approve net-neutrality rules, which prohibit internet service providers from blocking or slowing web content. Supporters argue that the rules protect internet freedom and openness, while opponents claim the regulations are an overreach of government authority. The rules also allow providers to charge subscribers based on data consumption, a move that may benefit carriers in upgrading and maintaining networks.

Key Takeaways:

• The FCC approved net-neutrality rules on a 3-2 vote, with Chairman Julius Genachowski and two other commissioners voting in favor.
• The rules prohibit internet service providers from blocking or slowing web content, and allow them to charge subscribers based on data consumption.
• Google and Amazon have welcomed the rules, which they say will prevent internet service providers from favoring their own online products.
• Internet carriers such as Comcast, Verizon Communications, and Time Warner Cable have opposed the rules, citing concerns that they will limit investment in new internet capacity and create uncertainty for businesses.
• The rules may lead to higher access fees for subscribers who consume large amounts of data, such as those who stream movies and online games.
• Senator Mitch McConnell has called the vote "a first step in controlling how Americans use the internet," while Representative Fred Upton has vowed to work to strike down the FCC's regulations.
• The rules have been welcomed by Google, which rose $8.01 to $603.07 on the Nasdaq, and Amazon, which gained $1.46 to $184.75.
• Internet carriers such as Comcast, Verizon Communications, and Time Warner Cable have opposed the rules, with Comcast's stock increasing 32 cents to $22.25 and Verizon's stock climbing 20 cents to $34.94.

Statistics:

• 3-2: the vote margin by which the FCC approved net-neutrality rules. (Source: Bloomberg)
• $8.01: the increase in Google's stock price on the Nasdaq. (Source: Bloomberg)
• $603.07: Google's stock price on the Nasdaq after the vote. (Source: Bloomberg)
• $1.46: the increase in Amazon's stock price. (Source: Bloomberg)
• $184.75: Amazon's stock price after the vote. (Source: Bloomberg)
• 32 cents: the increase in Comcast's stock price. (Source: Bloomberg)
• $22.25: Comcast's stock price after the vote. (Source: Bloomberg)
• 20 cents: the increase in Verizon's stock price. (Source: Bloomberg)
• $34.94: Verizon's stock price after the vote. (Source: Bloomberg)

Sources:

• Bloomberg
• Federal Communications Commission
• Google
• Amazon
• Comcast
• Verizon Communications
• Time Warner Cable
• Senate Commerce Committee
• Representative Fred Upton
• Senator Mitch McConnell
• Robert McDowell, Republican commissioner at the FCC
• Kay Bailey Hutchison, top Republican on the Senate Commerce Committee
• Marsha Blackburn, Republican representative from Tennessee