Leveling The Internet Playing Field With Government Regulation: What The FCC's Proposal Means For You

By Ian Bush

PHILADELPHIA (CBS) -- The head of the FCC has outlined his plan for the future of the Internet: it involves the government regulating the web like it does with phone service. The idea is not to let providers play favorites with sites, but how would it work in practice?

Your phone call goes through as quickly and clearly as when a Fortune 500 company dials. Net neutrality offers similar assurances for the Internet.

"Regardless of whether you're Amazon, Walmart, a startup trying to create a new business, or just you putting your information online. The company that carries your signal has to treat you the same as all the others."

Meaning, says Drexel University law professor Robert Field, companies like Comcast and Verizon couldn't charge sites more to reach your screen faster while putting others at a disadvantage.

FCC chairman Tom Wheeler argues that regulation is the only way to protect an open Internet for consumers, but the service providers call it overreach.

"They're worried that this gives the FCC too much authority to pick and choose how they regulate: it's equal access today, but it could be micromanaging pricing tomorrow."

The commission is expected to approve the rules later this month, but any changes likely will be held up by a long court fight.