You're a bit late in posting this because most people that were interested (and had at least a shred of intelligence) found out soon after a certain inflammatory article was written that its author greatly exaggerated the situation, and that his arguments (and accusations) were not factually sound.
That being said, this is terrible piece of legislation without any help from fear mongering authors. Yes, orphaned works are a problem, and yes, the current copyright system is quite flawed; however, these flaws are not sufficient to justify passing bills and creating laws that only place a band-aid on this particular problem while exasperating current issues within the old system, and creating new hindrances for artists.
I hope that no bills resembling those that have been proposed in the past (with regards to this issue) will ever pass, and I also hope that the current laws can be improved in a more reasonable manner.