If we don't have control over IP addresses and domains, what control will we have? No IP/no connection. They don't like your content, no domain. I don't see any control staying with U.S. if they go through with this.
And look at the title of this article, who will get it, China, Russia, Iran, Egypt, so many aggressive enemies eager to bury us. This is nothing short of treason on every one of their heads, Obama and Congress for not stepping up to protect us.
According to my Signal Corps sources, the US can affect 85% of the entire Internet at the flip of a switch so to speak. There are ways to include combat that determine who actually controls the Internet; what we are talking about is the commercialization and politics of the Internet - the actual ability to project control under Combat conditions is the actual measurement per DARPA and the US can deny use of the Internet for communications to all other nations should we choose to do so, while maintaining our own capacity.