It's the Stop Online Piracy Act that's being proposed. Just do a Bing or Google on it.
Basically it's censorship of the internet. Not by the government but by Hollywood and the RIAA. It would bascially kill Youtube among other things so I think the Youtube community alone could kill this bill.
However, the lobbyists for it have spent over $100 million on it so far. CBS being the biggest player.
Which is ironic and hypocritical. The most popular file sharing tools (Kazaa, LimeWire, BitTorrent) and DRM strippers were all invested in, promoted and distributed by...CBS owned affiliates like CNET. In fact there are editorials on CNET praising and comparing the various tools when testing them on copyrighted MP3's.
So CBS for the better part of a decade has done everything they could to encourage software piracy and now they want to control the internet as a means of stopping it. Shame on you CBS. Shame.