I've been keeping an eye on this as well. The thing is the bill actually can break the internet, for real, if it is implemented as written. They essentially want to fuck with DNS registrars as part of the solution which by all technical accounts will fuck up the internet in general, at least for a while they may be able to ignore US DNS servers and find a way to still get to sites hosted by US based companies.
For those into some heavy reading
here is the actual bill.
The big guns
telling congress they will break the internet. (I'd call a co-creator of TCP/IP a big gun)
Thank whatever god you may pray to for Rep. Jason Chaffetz (R-Utah).
He is the only adult in the room since the hearings concerning this contained no experts who could testify that it wouldn't break the internet, so he got them to wait until they could get an expert in there before they could continue.