The new "leaders" are billing this as "restoring internet freedom" by repealing "Obama Era" regulation as if things are being put back to some prior status quo that never actually existed. FCC enforced this rules prior, Verizon challenged on overreach and won, and the adjustments were made to bring enforcement within their reach. This article does a pretty good job of covering some of the history: http://fortune.com/2017/11/22/net-neutrality-fcc-ajit-pai-ve... .
The rest of the details are kinda moot IMHO when the foundation of their argument, that this is going back to some more free internet(free for ISPs) that never existed, is dishonest.