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TedX Livermore/ Flickr Creative Commons

New Silicon Valley Rep. Ro Khanna told Axios in a recent taping for the C-SPAN program "The Communicators" that his fellow Democrats should be wary of what he sees as a bad deal on a bill to protect net neutrality:

"I think the Democrats are pragmatic. I don't think that they're going to fall on their sword if there's a legitimate compromise. But a lot of times, these things sound good and then when you look back and you peel the onion they're just giveaways to corporations. So, we have to see what the actual details will look like."

Why this matters: A key question in the upcoming net neutrality battle is whether congressional Democrats will come to the table for a compromise bill. Such a bill could bar broadband providers from blocking or throttling content or allowing fast lanes, but would not treat providers as a utility and therefore scale back the FCC's new broad authority over the industry. That concession may go too far for some Democrats.

FWIW: Khanna says he thinks the broadband service should be treated like a utility, as the current FCC rules do, but said he doesn't want to comment on a legislative compromise that doesn't exist or "let the perfect be the enemy of the good."

What's next: Senate Commerce Committee chairman John Thune has said he expects Democrats to take some time to weigh their options. Plus, Thune and his House counterpart Greg Walden may wait for the FCC to act on dismantling the net neutrality rules the agency approved in 2015. New FCC Chair Ajit Pai confirmed opposition to the current rules, but declined to lay out a roadmap for agency action.

Go deeper

3 mins ago - World

Scoop: Blinken protests Israel settlements approval in "tense" phone call

Benny Gantz (L) and Tony Blinken. Photo: Jacquelyn Martin/Pool/AFP via Getty

Secretary of State Tony Blinken protested the decision to approve 3,000 new housing units in Israeli settlements in the occupied West Bank during a tense phone call on Tuesday with Israeli Defense Minister Benny Gantz, three Israeli officials tell me.

Why it matters: This is the first time new construction in the settlements has been approved since President Biden assumed office, and the Biden administration had been privately pressing the Israeli government not to proceed.

Senate Democrats unveil new income tax for billionaires

Sen. Ron Wyden. Photo: Drew Angerer/Getty Images

Senate Democrats on Wednesday released a billionaires' tax proposal, designed to help support President Biden's social spending and climate change legislation.

Why it matters: Sen. Ron Wyden (D-Ore.), chairman of the Senate Finance Committee, said the Billionaires Income Tax would raise "hundreds of billions of dollars" and would affect approximately 700 taxpayers who have more than $1 billion in assets or incomes of over $100 million a year.

The startup that wants to disrupt big internet providers

Illustration: Maura Losch/Axios

A new startup backed by funding from AOL founder Steve Case and Laurene Powell Jobs wants to break up broadband monopolies across the country.

Why it matters: Internet access has been crucial during the pandemic, but it's not ubiquitous, and it can be both slow and unaffordable in swaths of the country.