Sixty companies involved in building the internet we know today have sent an open letter to the American Federal Communications Commission, warning that killing Net neutrality might also kill thousands of dollars of investments in infrastructure projects.
In the letter, companies like Intel, Cisco, Juniper Networks, Qualcomm, Ciena and IBM, said that placing the Internet under Title II public utility rules would be harmful for the economy and for the Internet's development.
"Title II would lead to a slowdown, if not a hold, in broadband buildout, because if you don't know that you can recover on your investment, you won't make it," it says in the letter.
"The investment shortfall would then flow downstream, landing first and squarely on technology companies like ours, and then working its way through the economy overall."
The letter was organised by the Telecommunications Industry Association (TIA), a trade group for communications-network suppliers and manufacturers and many of those involved are members of the group.
Google, Amazon and Facebook say that Title II regulation would ensure the free and fair flow of traffic across the Web.
The FCC is stretched between the interests of Internet service providers (ISPs), and those of web companies, startups and users.
Internet service providers could charge extra money to give certain websites faster internet connections, so that their users have a better and more seamless browsing experience.
On the other hand, many internet companies and users want to make sure all internet traffic is treated equally, which is the principle behind Net neutrality.