Update: The FCC voted to kill Net Neutrality.

Most days, people are unlikely to be tuning into a meeting at the Federal Communications Commission (FCC). Today (14 December), however, is slightly different, as officials are set to debate the repeal of net neutrality – the Obama-era open internet law.

The meeting, which started at 15:30pm GMT (10:30am ET), is being streamed live on the FCC's main website. When tested by IBTimes UK, however, the stream was not 100% reliable. Perhaps they should have paid for a faster upload connection?

Luckily, a slew of US media organisations were also streaming the session via YouTube.

The meeting is expected to run for approximately two hours and, according to the FCC's website, the net neutrality section is scheduled as the fourth topic – titled "Restoring Internet Freedom."

A description of the now-live meeting reads: "The Commission will [hear orders to] restore internet freedom by returning broadband internet access service to its prior classification as an information service.

"The item also will eliminate the Commission's vague and expansive Internet Conduct Standard, along with the bright-line rules.

"Additionally, it will modify the transparency rule to promote additional transparency, while eliminating burdensome and unnecessary requirements."

The five FCC commissioners will get the chance to argue their case. Two are expected to vote against the repeal. Despite widespread backlash, it is believed that the legislation will be slashed.

FCC chairman Ajit Pai will speak last and then hold the final vote.

What is net neutrality?

Net neutrality is the principle that internet providers treat all web traffic equally.

That means firms should not give enhanced coverage, preferential treatment or manipulated search results to any websites, services or applications in exchange for money.

When establishing the law, the FCC chose to enforce three main tenants: no blocking of legal content, no throttling of internet traffic and no paid prioritisation in terms of content.

Some critics – including Pai, a former Verizon, lawyer – believe the law is anti-business. There will be many eyes on the FCC meeting this afternoon – as it brings very the future of the web into debate.