The US House of Representatives sat late into the night to rush through its attempt at a telecommunications bill on Friday in the face of opponents that say it could lead to higher phone and cable prices initially by lifting controls on giant monopolies before vigorous competition can take hold in their markets. The bill would make it easier for the regional Bell companies to offer long distance service once customers have the ability to obtain local phone service from a residential and a business competitor in their markets. It would lift rate regulation on cable companies but local telephone companies would be allowed to enter cable markets. Television and broadcast companies will be free to own properties that reach up to 35% of the US audience, compared with 25% now. The White House is still threatening to veto the legislation. The House bill now goes to a conference committee to harmonise it with the bill passed by the Senate.
