On Thursday, Federal Communications Commission chairman Julius Genachowski advocated a position that would treat broadband as a regulated service. He also said the FCC will not be involved in regulating general rates that phone and cable companies charge for internet access.

On the surface, it’s an announcement that might not seem like that big of a deal but it is seen as a big win for advocates of network neutrality, the belief that internet service providers should not be able to charge different rates for different types of content or restrict what kind of content users have access to. And it might have a very real affect on how you experience the internet, watch online videos, listen to music, and even pay your bills. We unpack the greater meaning of what Mr. Genachowski had to say. We’re joined by Kevin Werbach, who co-led the review of the FCC for the Obama-Biden transition team and freelance technology reporter Glenn Fleishman.