Consumer Choice in Online Video Act

So the Young Turks made a video on the subject, and i thought it was interesting. 

https://docs.google.com/file/d/0ByFAfw2DCfyXS053ckFGTGYyZzQ/edit  - pdf document of the actual bill 

http://www.washingtonpost.com/business/technology/rockefeller-announces-online-video-bill/2013/11/12/9527a89c-4bb4-11e3-be6b-d3d28122e6d4_story.html

http://www.youtube.com/watch?v=z9vPeh-VYYA

 

Haven't gotten around to reading the whole thing yet, but what do you guys think? Is there a catch to it?