Actually, the proposed law isn't a bad thing. It's designed to stop works from being lost, not diminish current U.S. copyright powers. The penalties are quite harsh for trying to invoke the proposed law by intentionally obscuring or deleting any copyright information. They are also quite firm about misrepresenting efforts to contact the copyright holder. While not a great law, it isn't the evil ogre that the more reactionary opinions and blogs are making it out to be.