This is a continuation of a earlier effort. Back in March, the House of Representatives voted 215 to 205 to kill proposed privacy rules that would have required ISPs be transparent about the private data it collects and sells to third-parties. The rules also would have required that ISPs make collecting private data, including browsing history, an opt-in affair. Verizon was among several large ISPs that successfully lobbied against the rules.
In response, dozens of states came up with their own privacy proposals, and ISPs are trying to kill those too. Verizon sent a letter and white paper to the FCC pointing out that the government agency has the authority to preempt state proposals to protect consumer privacy, and that it should take action.
"Allowing every State and locality to chart its own course for regulating broadband is a recipe for disaster," Verizon writes (PDF). "It would impose localized and likely inconsistent burdens on an inherently interstate service, would drive up costs, and would frustrate federal efforts to encourage investment and deployment by restoring the free market that long characterized Internet access service."
Never mind that Verizon invested $5 billion in its wireless network in the first half of 2016. Privacy protections will somehow disrupt the free market and ultimately lead to ISPs sitting on their thumbs rather than upgrading their networks, or something like that.