Clarification of Antitrust Remedies in Telecommunications Act of 2004 - Amends the Clayton Act to make it unlawful for an incumbent local exchange carrier (a Bell operating company) or an affiliate to create or preserve a monopoly in any part of commerce by using its networks to engage in anticompetitive practices.
States that applicability of this Act is not affected by agency regulation of the conduct it proscribes, except that conduct required by agency regulation shall not be construed to create liability under this Act.