In short, it's known as the "internet kill switch" and votes on it are being rushed through the lame duck session. It passed the Senate Committee on Homeland Security and Governmental Affairs last night and is titled, The Protecting Cyberspace as a National Asset Act (PCNAA)
The bill, sponsored by Sens. Joe Lieberman, Susan Collins, and Tom Carper, would give the president "emergency authority to shut down private sector or government networks in the event of a cyber attack capable of causing massive damage or loss of life." The original bill granted the president the authority to "indefinitely" shut down networks, but an amendment to the PCNAA, approved yesterday, mandates that the president "get Congressional approval after controlling a network for 120 days."
So yeah, they can't turn it off DNS servers and shit *forever*, just 120 days without support of a sycophantic congress. Victory for free speech!
I hope every has their scanners, radios, and dial up modems ready. ticom recently posted to his blog about a way addresses of BBS or rogue servers may be passed in the very near future. http://deaddrops.com/