It seems to me that the political action on this subject is premature.
This whole issue is relatively new. It has for a long time been the case that if you want to be sure of really high quality bandwidth to a particular ISP's customers, you had to make arrangements directly with that ISP, typically buying a pipe giving you termination on their network. Because of this, some providers popped up whose entire purpose is to be a middleman for this sort of thing, getting a lot of high-bandwidth private pipes and then selling access to that network.
I am not really sure what the telcos are trying to do differently than before. They are simply saying that they want to charge for high-quality connections to their networks. Which they do today, and have done for a long time. As far as I can tell, this is simply a bunch of chest thumping on the telcos' part trying to claim that they're the more valuable party in that relationship, and therefore deserve more money, or something. I assume this is all for Wall Street, who likes that sort of showmanship. Google's market cap is bigger than Verizon's. I'm guessing that Verizon's management doesn't like that very much, and would very much like to convince Wall Street that Verizon is the more valuable party.
There are all sorts of gloom-n-doom predictions of telcos charging a toll for everyone who wants to access their network at more than a trickle. That is certainly a possibility. But it seems to me that it would be a pretty fatal move if they have competition. Their competitors have to simply not do that, and they could advertise it widely - real, non-discriminatory Internet access. And if such a thing were to happen, then, at this point, it would be appropriate for the public to push legislatures to create a regulatory solution.
Instead, we're pushing for a regulatory solution to a hypothetical problem. This doesn't seem like a smart strategy. Government regulation is a force that tends to make everything it touches mediocre. That doesn't seem like a step in the right direction. Until things get downright horrible, at which point mediocre would sound real good, let's just leave things be.
Government regulation of the Internet strikes me at a high level as being a Very Bad Thing. I would rather a duopoly of telcos and cable companies control the Internet than the government. At least in the former case, they have an incentive to offer something people will be willing to pay for.