You may or may not have noticed amongst the blizzard of other stuff that's happened in the last two weeks that Donald Trump appointed Ajit Pai to the chairmanship of the Federal Communications Commission. Pai has a history of being something of a contrarian; during his time as one of the five commissioners of the FCC, he repeatedly spoke against regulations that protected the consumer and was against diverse media ownership (since the 1980's, we went from 50 media companies to just six). Time and again Pai's said that he was going to tear down regulation after regulation that the FCC was responsible for enforcing, and so far he has a track record of making that happen, albeit piece by piece and not all at once.
But what does this mean?
Net Neutrality is the legal state in which every Internet Service Provider out there has to provide the same kind of service for all of its users to every online service out there. In other words, the Net is treated like a basic utility, no different from water or electricity. If a provider gets caught monkeying with its service to privilege some company over another, they can get fined. A number of large service providers, including Comcast and AT&T, pledged publicaly that they'd adhere to the terms of Net Neutrality until a certain future date. That's pretty much it.
Let's look at a world in which net.neutrality is a thing in the United States, which it still seems to be as of the time I wrote this article: