Speed Reads

but really thanks obama

Obama wants to lower your cable bill

Cord-cutters, rejoice! On Friday, Obama is set to announce his personal support for a pending Federal Communications Commission proposal that would open up the market for cable set-top boxes to increase industry competition and to give subscribers the option of leasing — or buying — elsewhere. Currently, most TV subscribers are stuck leasing their boxes from their cable providers, which can cost more than $200 a year, on average.

Alongside announcing his personal support for the FCC proposal, Obama also plans to sign an executive order requesting that all federal agencies send proposals for how to better protect consumers and increase competition in various industries. While companies like Google, Amazon, and Apple are thrilled with Obama's initiatives, The New York Times reports the cable industry is calling it a "giveaway to wealthy tech companies" and claims it could further inflate prices.