That is the same kind of heavy-handed regulation that gave us the sorry copper POTS network we are stuck with today. The free market is the solution, and must be defended against those who want European-style top-down national regulation of what has historically been the most free and vibrant area of economic growth the world has ever seen.
The reason the internet grew into what it is today during the 1990s was precisely because it was so free of regulation and governmental control. If the early attempts[1] to regulate the internet had succeeded, HN probably wouldn't exist and none of us would have jobs right now.
1. https://en.wikipedia.org/wiki/Communications_Decency_Act (just one example from memory--there were several federal attempts to censor and tax the Internet in the 1990s)