He's a US congresscritter from Virginia, and has tried to get something like this passed before. This version tries to make less sweeping changes, in hopes that it won't be shot down. If passed, this would make it legal in a few extra cases to break DRM, and it would reduce the amount of hurt copyright holders could dish out. Also, it would put the Betamax decision into the code, making it harder for courts to undermine it. Here's the press blurb, the bill itself (PDF), and a breakdown (Word format, can display in TextEdit).