Eshoo on Fiscal Impact of Title II: Sky's Not Falling

Says ISPs own data make the case

Network neutrality regulation fan Rep. Anna Eshoo (D-Calif.), ranking member of the House Communication Subcommittee, says doomsday financial scenarios tied to the FCC's reclassification of Internet Access under Title II common carrier regs have not materialized.

That comes in her opening statement for an Oct. 27 hearing in the subcommittee on the financial impacts of Title II.

New rules went into effect June 12 that reclassified Internet access as a telecommunications service subject to some common carrier regulations.

"The sky is not falling and we have broadband providers' own data to prove it," she says, according to a copy of her opening statement provided by her office.

She cites an analysis by net neutrality advocate and ISP critic Free Press, which found that more than half of 18 publicly traded ISPs had boosted capital spending during the second quarter of 2015.

IPSs have said while they are not going to just stop investing, there is no way to measure what may not be invested due to concerns about the regulatory uncertainty represented by an open-ended Internet conduct standard or concerns about rate regulation.

Eshoo also said the investment "Story" should include chapters on mobile, apps, social media, streaming video services and more.

She said according to a PricewaterhouseCoopers study, venture capitalists invested $5 billion in net-specific companies during the same quarter.