House lawmakers on Tuesday unanimously approved a seven-year extension to a federal ban on taxing Internet access.

The bill, which passed by 402-0, has been renewed twice since being enacted in 1998. It was set to expire again on Nov. 1. The latest version has already been approved by the Senate and now awaits the president's signature.

"I urge the president to sign the bill immediately, so Americans will not face a toll road when they get on the information superhighway," House Speaker Rep. Nancy Pelosi (D-Calif.) said in a statement.

Karen Kerrigan, the CEO of Small Business and Entrepreneurship Council, a Washington-based advocacy group, said the move will encourage innovation and investment in the digital economy.

"Congress came through for entrepreneurs by keeping the Internet free from onerous and burdensome taxation," Kerrigan said in a statement.