A quick and sloppy explanation: the Federal Election Commission has to regulate, among other things, what certain people in certain positions say regarding political candidates. It has been making an exception for the Internet, even though McCain-Feingold, the law governing its regulations, provides for no such exception. Now, however, Senate Minority Leader Harry Reid and Rep. Jeb Hensarling are proposing legislation that would grant exactly that exemption in the form of a Congressional statute and allow the FEC to keep, rightfully, exempting the Internet.
Whatever The Good Reverend is, it is not typically a political blog, but I do point this "Online Freedom of Speech Act" out only to note how beautiful it is to see Instapundit and DailyKos agreeing with each other. The Internet is a uniter, not a divider.