I am generally distrustful of bipartisan legislation, especially when the CEO of RIAA is this enthusiastic, but this doesn’t look too bad on its face:
A key provision of the bill is for Congress to establish the equivalent of a SoundExchange for songwriters to track credits and distribute royalties when digital services use their work. The switch to a market-based rate standard for artists and writers, closing the pre-1972 loophole that denied digital compensation to legacy artists and the addition of copyright royalties for producers and engineers are other changes widely hailed as improvements by a wide range of industry organizations, from the Recording Academy and the RIAA to ASCAP, BMI, the American Association of Independent Music and the American Federation of Musicians.
Sounds like a good compromise on the needs of artists and distributors. Establishing the means to accurately enforce contracts is what we have a govenrment for.