Aside from its expense, the main problem with the bill is that the FDA's technological vision of "food safety" is at odds with the idea of "real food" (link).
The only reason the bill isn't a COMPLETE disaster is that it contains some exceptions for very small food producers.
Regardless, it is a step in the wrong direction.
Why did this bill pass now, when it seemed like it was stuck in the legislature? Slate speculates:
The best theory I've heard is that key Republicans…decided that it wasn't worth keeping the Senate in session past Christmas to debate it. It's a Christmas miracle, if the key characteristics of Christmas are self-interest and fatigue.At least as likely an explanation as any other.
It's unlikely to get killed in the House, but if you would like to make your voice heard, please contact your representative.