The FCC stands at the brink of a major achievement — ending a failed two-year experiment in federal micromanagement of broadband and a return to the effective, bipartisan “light-touch” policy under which the Internet has thrived for the past two decades.

Chairman Ajit Pai’s return to deregulation promises to unleash a new burst of network deployment and innovation, throwing off failed regulatory shackles that saw broadband investment drop $2.4 billion in the last two years.