"There is no authority or need for the federal government to regulate the Internet," Speaker of the House Paul Ryan explained. "This initiative blocks unelected bureaucrats in Washington from dictating how people use the Internet."

The bill is seen by many as the latest Republican effort to undermine the tenets of net neutrality. If you'll recall, the FCC established the set of rules to protect consumers against policies like throttling and allowing companies to pay more for so-called fast lanes. FCC chairman Tom Wheeler has already promised not to use the power to tell internet companies what they can charge. However, members of Congress worry that the provision would allow the commission to fine a service provider if it decided their pricing structure was unfair.