For the record, I am opposed to government intrusion into all citizens privacy but I just read the bill and I think the article referenced missed the focus of this bill. It's about reporting "knowledge" of illegal activity. Not about preventing it or even watching for it.
`(a) Duty To Report-
`(1) IN GENERAL- Whoever, while engaged in providing an electronic communication service or a remote computing service to the public through a facility or means of interstate or foreign commerce, obtains actual knowledge of any facts or circumstances described in paragraph (2) shall, as soon as reasonably possible--
`(A) complete and maintain with current information a registration with the CyberTipline of the National Center for Missing and Exploited Children, or any successor to the CyberTipline operated by such center, by providing the mailing address, telephone number, facsimile number, electronic mail address of, and individual point of contact for, such electronic communication service provider or remote computing service provider; and
`(B) make a report of such facts or circumstances to the CyberTipline, or any successor to the CyberTipline operated by such center.