'Section 230 says that "No provider or user of an interactive computer service shall be treated as the publisher or speaker of any information provided by another information content provider" (47 U.S.C. § 230). In other words, online intermediaries that host or republish speech are protected against a range of laws that might otherwise be used to hold them legally responsible for what others say and do. The protected intermediaries include not only regular Internet Service Providers (ISPs), but also a range of "interactive computer service providers," including basically any online service that publishes third-party content. Though there are important exceptions for certain criminal and intellectual property-based claims, CDA 230 creates a broad protection that has allowed innovation and free speech online to flourish'.
Example for Twitter editorializing and cancelling https://www.lexology.com/library/detail.aspx?g=1804a02d-a015...
Ammending S230 Bezos/WashPo
'...new legislation would target Section 230, a decades-old portion of law that spares social media sites from being held liable for the posts, photos and videos uploaded to their sites by their users. The proposal would pave the way for steep sanctions on major online platforms if they don’t act to remove a range of illicit content, from child exploitation to terrorism, according to Justice Department officials, who spoke on the condition of anonymity Wednesday.
The agency also seeks to force tech giants to be more transparent about their content-moderation decisions and more consistent in their enforcement of them, according to a report the department released Wednesday. The move might offer the U.S. government a new avenue to probe and punish companies over allegations of political bias'.
https://www.washingtonpost.com/technology/2020/06/17/doj-bar...
> No provider or user of an interactive computer service shall be held liable on account of— (A)any action voluntarily taken in good faith to restrict access to or availability of material that the provider or user considers to be obscene, lewd, lascivious, filthy, excessively violent, harassing, or otherwise objectionable, whether or not such material is constitutionally protected
With that it seems reasonable to read Section 230 as "you don't have to proactively moderate, and any good faith moderation you do doesn't break that protection".
Regardless of whether or not this is the right thing for society, it seems that Facebook and Twitter are well within the bounds of section 230 to do some moderation without losing the protection of section 230.