The FCC is expected to start submitting net neutrality regulation tomorrow, and Verizon CEO Ivan Seidenberg isn’t happy about it. He says the FCC’s net neutrality proposals will kill innovation and profits for providers.

Seidenberg’s points are sometimes fair, though often seem feeble. Net neutrality would bar providers from granting faster access to whomever they please, and Seidenberg suggests this will slow the transfer of, say, medical records. Mostly, though, he seems concerned with Verizon’s profit margin if tiered service is banned, saying that will take away Verizon’s ability “to make a return on their investment”. The legislation, despite protests, is likely to pass, given that the five-person committee is controlled by pro-net-neutrality Democrats. Seidenberg really goes to town on the FCC, claiming they’re favouring application providers like Google (who, along with companies like Amazon and Facebook, has voiced support for net neutrality) rather than service providers like Verizon and Comcast.

Check back tomorrow to see more coverage of this topic. [CNET, image also CNET]