Bernie Sanders And Elizabeth Warren May Have Just Saved Consumers $14 Billion

Source: Huffington Post

WASHINGTON -- Cable customers who are tired of paying through the nose to rent set-top boxes are about to see some serious savings, thanks to a new proposal from the Federal Communications Commission.

The new regulation would open up the set-top box market to consumer choice so that customers could rent or buy devices from providers other than their cable companies. About 99 percent of cable customers currently rent set-top boxes from their cable company. According to a survey commissioned by Sens. Ed Markey (D-Mass.) and Richard Blumenthal (D-Conn.), cable customers pay an average of $232 a year for those rentals -- a $20 billion market annually, just for set-top box rentals.
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Cable companies and their lobbyists are furious about the plan, which the commission is set to vote on Feb. 18. But the proposal didn't emerge from a vacuum. Liberal senators have been pressuring the FCC to act on cable "monopolies" for months. In July, current Democratic presidential hopeful Sen. Bernie Sanders (I-Vt.) organized a letter calling on the agency to collect a host of consumer pricing information from cable companies -- a move designed to show that in many regions of the country, households pay arbitrarily high prices due to a lack of other cable options. Sens. Elizabeth Warren (D-Mass.), Al Franken (D-Minn.), Markey and Blumenthal all signed on to the letter.

Read more: http://www.huffingtonpost.com/entry/fcc-proposal-cable-tv-boxes_us_56aa781ae4b05e4e3703b26e

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Way to go Bernie and Elizabeth!! (though we have to wait for Feb 18th vote to really celebrate)