That's what we've had.
What is being done is the Internet Corporation for Assigned Names and Numbers (ICANN) and, consequently, the Internet Assigned Numbers Authority (IANA) are becoming fully independent from the US government.
Previously, they were subject to the oversight of the Department of Commerce, giving the US government effective veto authority over certain aspects of internet governance.
This allowed for political interference, like the Bush administration blocking the .xxx TLD.