Media speculation about a Net Neutrality plan in the works by the Federal Communications Commission (FCC) has rattled some politicos in Washington. Unfortunately this news will likely send shockwaves throughout the investment community. This rumored net neutrality plan will place greater regulations on wireless broadband. In light of this, we must ask ourselves did Washington learn anything from the midterm election? Were our leaders in Washington asleep as the public cried out for jobs? If we are serious about creating these jobs and allowing the private sector to thrive, it would be wise to put the car in “neutral” on regulation that will ultimately harm our chances to accelerate growth.
Going above and beyond the language proposed earlier in the year by Rep. Henry Waxman would incite real uncertainty in the business community. But the more basic reason why we should not impose burdens on the Internet and even expand that burden to wireless is simple – jobs. The laws of economics tell us that without demand there will be no new employment opportunities for the millions of Americans looking for work. As we know many of these people searching for jobs are people of color who already live in low income communities. It is clear by current economic stats that Latinos and African Americans have been hit hardest by the economic downturn and will continue to be vulnerable if they lack access to opportunities that come with broadband technology. Studies show that these communities have relied on wireless devices and mobile broadband as a bridge to opportunity. Knowing that, then why roadblock access by strong-arming wireless with unnecessary regulation?
Wireless networks represent the future and is an empowering tool for minority communities. The reality is broadband technology has been the beacon of hope in creating jobs and stimulating economic recovery. Yet there is much more to come. The budding potential of wireless could transform our distressed economy and ensure long term prosperity across the country. The hope is the rumors of the FCCs move toward burdensome regulation will stay that way – simply rumors. Washington has to keep the eye on the ball, nothing should come between economic recovery and jobs – it’s that easy.
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