good news for internet radio?

A trio of legislators introduced the "The Internet Radio Fairness Act" in the US House of Representatives today, in an effort to aid small webcasting radio stations. The bill would remove much of the financial hardship on small businesses (less than six million dollars in gross revenues) that broadcast music over the web. The Digital Media Association is very positive about the bill, and has provided a copy of it online (pdf). The Radio and Internet Newsletter is also excited about the legislation. While this would benefit a very large number of webcasters, the question, with five weeks left before the House adjourns and hundreds of stations already closing, is might it have come too late?