This article, like the headline, is light on facts and high on sensationalism. However, the bill (full text available at [1]) does look pretty ugly.

[1] http://leahy.senate.gov/imo/media/doc/BillText-PROTECTIPAct....

We need a new constitution.

The Constitution is fine; the government's habit of ignoring it is the problem.

EDIT: The Constitution is fine; our habit of letting the government ignore it is the problem.