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The Senate had been scheduled to hold a proceedural vote next week on whether to take up the Protect IP Act (PIPA) -- a bill that once had widespread, bipartisan support. But on Friday, Senate Majority Leader Harry Reid said he was postponing the vote "in light of recent events."
Meanwhile, the House of Representatives said it is putting on hold its version of the bill, the Stop Online Piracy Act (SOPA). The House will "postpone consideration of the legislation until there is wider agreement on a solution," House Judiciary Committee Chairman Lamar Smith said in a written statement.
The moves came after several lawmakers flipped their position on the bills in the wake of widespread online and offline protests against them.
Tech companies, who largely oppose the bills, mobilized their users this week to contact representatives and speak out against the legislation. Sites including Wikipedia and Reddit launched site blackouts on January 18, while protesters hit the streets in New York, San Francisco, Seattle and Washington, D.C. Google (GOOG, Fortune 500) drew more than 7 million signatures for an anti-SOPA and PIPA petition that it linked on its highly trafficked homepage.
The tide turned soon after the protest, and both bills lost some of their Congressional backers.
Read full story at CNN Money...