The new bill is called CISPA, and instead of using the guise of stopping online piracy, they are now using the justification of stopping online terrorists (well gee, who would be against that?).
It says, in very broad language that if you say anything they feel is related to national security, they can compel companies to give you their information without a warrant or any court proceedings at all.
The U.S. congress sure has the best interests of Americans at heart... I feel protected now that everything I do can be monitored by trusted members of the U.S. government!
"(4) RELATIONSHIP TO OTHER LAWS REQUIRING THE DISCLOSURE OF INFORMATION.
The submission of information under this subsection to the Federal Government shall not satisfy or affect any requirement under any other provision of law for a person or entity to provide information to the Federal Government.
Translation: Other privacy laws don't apply.