A bill to amend the Communications Act of 1934 to provide that the American Telephone and Telegraph Company shall not be divested of its ownership of any local telephone company, or of its holdings in any telecommunications manufacturing or research operations, for a period of 2 years.

Amends the Communications Act of 1934 to prohibit, for a two year period, the American Telephone and Telegraph Company (AT&T) from being divested of any of the interest it holds in a local telephone exchange company or in a telecommunications manufacturing or research firm.

Requires AT&T to submit a divestiture plan to the Federal Communications Commission (FCC) if AT&T seeks divestiture after the two year period.

Requires the FCC to issue an order approving or disapproving the plan within 60 days after it is submitted. Requires any order approving such a plan to be submitted to Congress. Permits such an order to become effective only if Congress adopts a concurrent resolution approving the order within 30 days of its submission.