So the US is playing internet police again hmm?
This bill won't pass, not if the public has any say in it. And given the petition linked in the original post, i'm inclined to think they do.
I like how the MPAA says they lose $135 billion per year due to piracy. I kinda doubt they lose that much, and they seem to be doing fine without it. If they didn't charge so much maybe they'd sell more.
That isn't how legislation in America works. Plus petitions are just about the worst way to get politicians to change their mind. 700k people signing a petition means almost 210 million (adult population before anyone asks) did not. Guess which number is more significant?
But anyway, even if this does pass (unlikely considering Google is directly opposed to it) Obama will most likely veto it. On the slim chance he doesn't, the supreme court will tear it down the first time some company tries to sue someone according to the new legislation as it violates several constitutional/ammendment rights. This is just the RIAA trying to flex its political muscle once again.