This could even shut down Facebook, Google+, and Twitter. Possibly going so far as to shut down LinkedIn, too. Forums, Blogs, anything where any user is allowed to post content, can be completely shut down without viable recourse for the person being shut down.
How about Google groups, too? Those can be killed. Once even a link to copyrighted content appears, a copyright holder can demand the shut down of the site that has the link.
I am astounded. This might be the single worst piece of legislation I've ever even heard as regards copyright and the internet.
Here's a link to a better writeup, and includes some action points. Please, people, take them. Otherwise, the internet as we know it will be dead in this country, and the economic issues that we have right now are going to be called the good old days within a year.