Federal Communications Commission chairman Ajit Pai on Wednesday took the first steps in his plan to roll back the key componentof the 'net-neutrality' orderset during the Obama administration.In an impassioned speech given in Washington, DC, Pai said he has issued a notice of proposed rulemaking to the rest of the agency that will reversethe the rules'classification of internet service providers (or 'ISPs') as utility-like telecommunication services under Title II of the Communications Act.Instead, Pai wants to return ISPs to being 'information service providers' under Title I of the Act. That's what they were considered prior to the 2015 rules, and would give them greater control over what they can and cannot do withintheir networks.All of that sounds hugely unsexy, but it's significant. The net-neutrality order as it stands now legally prevents ISPs like Comcast, AT&T, and Verizon from blocking or slowing the speeds of internet companies like Netflix or Snapchat, and from creating so-called 'fast lanes' for certain sites and apps in exchange for payment.For instance, a Comcast cannot slow down a YouTube ' or, more notably, a future YouTube ' to make its preferred services more appealing. Nor can it let YouTube pay for faster service than every other video site.Most large ISPs have promised to abide by the principles of net-neutrality regardless, though. Like Pai,they have long argued that the Title II classification is unnecessary to enforce them, and deemed any fears they wouldn't misguided.In the speech Wednesday, Pai said the call to regulate ISPs akin topublic utilities ismainly motivated for political reasons. He also reiterated past statementsthatthe more stringent regulations involved with the net-neutrality rules have slowed ISPs' willingness to expand and upgrade their broadband networks, and thus hurt job growth.Multiplestudies have concurred with that assertion, though net-neutrality advocates say it's difficult to separate the effect of Title II in a vacuum from the widereconomic trends of the telecoms industry.Pai did not give a direct, one-to-one replacement for the "no blocking/throttling/paid prioritization" pieceof the current rules, but said the agency will seek comment from the public on howto approach them.This story is developing. Check back for updates.SEE ALSO:Trump just killed Obama's internet-privacy rules ' here's what that means for youJoin the conversation about this storyNOW WATCH: AT&T CEO: Trump is a 'positive development' for our industry
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