“I admire the work that [Judiciary Chairman Patrick] Leahy [D-Vt.] has put into this bill," Reid said. “I encourage him to continue engaging with all stakeholders to forge a balance between protecting Americans’ intellectual property, and maintaining openness and innovation on the Internet. We made good progress through the discussions we’ve held in recent days, and I am optimistic that we can reach a compromise in the coming weeks.”
Meanwhile, House Judiciary Chairman Lamar Smith (R-Texas) postponed action on his Stop Online Piracy Act indefinitely, saying, "It is clear that we need to revisit the approach on how best to address the problem of foreign thieves that steal and sell American inventions and products."
Smith said his committee would seek input from supporters of the legislation as well as critics on future bills designed to tackle the problem of online piracy.