"We can't go out and invest that kind of money deploying fiber to 100 cities not knowing under what rules those investments will be governed," the company's chief executive,
"We think it is prudent to just pause and make sure we have line of sight and understanding as to what those rules would look like," he said, according to Reuters.
AT&T backs laws that would allow the company to charge higher fees for faster connections. The Dallas-based company is not alone--Verizon recently called Obama's proposal "a radical reversal of course that would in and of itself threaten great harm to an open Internet, competition and innovation."
AT&T's announcement comes two days after President Obama urged the
"An open Internet is essential to the American economy and, increasingly, to our very way of life," Obama said on Monday.