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AP

A senior FCC official told reporters Thursday that the agency's leadership believes reversing the Obama-era decision to treat broadband like a utility "would be very, very good for the internet economy and Silicon Valley." Translation: The official is arguing that companies like Google and Netflix were able to thrive and grow into corporate giants in a world before broadband was regulated utility-style by the FCC in 2015, which current Republican Chairman Ajit Pai wants to reverse.

Quick take: While that may be true, it hasn't stopped Silicon Valley startups from resisting a rollback of the rules. The Internet Association, whose members include Google, Facebook and Netflix, has said it isn't wedded to a particular approach but that it supports the current rules.

Optional reading: You can peruse the FCC's whole proposal here. The upshot: It raises the prospect of eliminating some of the rules against blocking, throttling and paid prioritization, opening the door to fast lanes on the internet.

Go deeper

26 mins ago - Politics & Policy

Trump leaves White House for the final time

President Trump took off on Marine One at 8:17 a.m on Wednesday morning, departing the White House for the last time, en route to Florida.

The big picture: Trump's final hours will be marked by snubbing his successor and granting pardons to many of his allies who have been swept up in corruption scandals.

Inauguration Day dashboard

Screenshot: Fox News

President Trump has left the White House en route to a farewell event at Andrews Air Force Base, kicking off the day that will culminate with President-elect Joe Biden taking office.

What's next: The inaugural celebration for young Americans is being livestreamed, starting at 10am.

Dion Rabouin, author of Markets
1 hour ago - Economy & Business

Janet Yellen said all the right things to reassure the markets

Illustration: Aïda Amer/Axios

Treasury Secretary nominee and former Fed chair Janet Yellen's confirmation hearing before the Senate Finance Committee on Tuesday showed markets just what they can expect from the administration of President-elect Joe Biden: more of what they got under President Trump — at least for now.

What it means: Investors and big companies reaped the benefits of ultralow U.S. interest rates and low taxes for most of Trump's term as well as significant increases in government spending, even before the coronavirus pandemic.