Facing a crowded legislative calendar before adjournment, Congress is rushing to complete work on the most sweeping overhaul of the nation's telecommunications system in sixty years. The pending legislation takes important steps to deregulate the system by allowing the Regional Bell Operating Companies (RBOCs), or "Baby Bells," to enter the long distance and equipment manufacturing markets and by ending the ban on compe- tition between telephone and cable companies. Yet disagreement still exists in the Senate over the extent and pace of deregulation. A modified version of the original Senate proposal S. 1822, The Communications Act of 1994, sponsored by Senator Ernest F. Hollings (D-SC)-passed the Senate Commerce Committee on August 11 by an 18-2 margin, but controversial elements of the package are certain to create problems when the bill is debated on the floor. Although Senators could attempt to amend S. 1822 when it reaches the floor, they should consider substitutin