The Federal Communications Commission voted 3-2 Thursday to overturn net neutrality rules established in 2015, The Washington Post reported Thursday.
Net neutrality rules required internet service providers to guarantee clients equal access to all online content.
The repeal of such rules would allow internet companies to accelerate service for some applications and websites as well as slow or block other sites.
FCC Chairman Ajit Pai said in a statement published Thursday that net neutrality regulations have impacted investments in high-speed networks and forced small internet service companies to delay or cancel upgrades to fiber networks.
Pai noted that the move to repeal such regulations seeks to promote competition among broadband service providers, advance innovation, provide broadband companies incentives to develop networks and help FCC ensure transparency among ISPs.
“Our decision today will also return regulatory parity to the internet economy,” he added.