Have you actually read the act? Quick question: What does it regulate?
One of the provisions of the bill that most conservatives found objectionable was that it would require ISPs to "treat all content equally", and the wording was such that the FCC could easily have ruled that the ISP could not differentiate between a streaming video and a text message.
Unfortunately, I am not able at the moment to locate good references to the bill itself, nor to some of the more in depth analyses that I read of the bill. I think the internet is working pretty well today as it is, and I don't think we need to give a bunch of marxist federal bureaucrats more power to regulate it.
IBD Editorial: A Power Grab Called 'Net Neutrality'
WSJ Article: Democrats Tell FCC to Push For 'Net Neutrality'