The race is on to provide high-speed telecommunications services-video, voice, and data-to American consumers. Cable companies are spending $33 billion a year on infrastructure to provide broadband (high-speed) services and they want some assurance that their new services won't be regulated. In particular, they want to preserve their freedom to bundle their own proprietary Internet service along with high-speed access. The Baby Bells are also spending heavily to deploy broadband via digital subscriber lines (DSLs) and they, too, want to preserve their freedom to bundle. America Online and other traditional Internet service providers, on the other hand, want access to these new high-speed pipes on reasonable terms.

The FCC is caught in the middle, trying to broker the competing interests of powerful industry groups while creating a regulatory framework that facilitates speedy deployment of broadband services. Congress and the Administration are struggling to determine whether more regulation-or less-best promotes investment, competition, and the interests of consumers.