Freedom of expression for the corporations you know the “people” who matter?

It might. If it causes undue burden on ISPs or services like Cloudflare, for example, the law will probably be scrapped by some part of Congress or a judge.

And even if it somehow survives all of that, a VPN with a server in another country will make this bill pointless.

The current administration is seemingly trying to kill the very concept of free speech and expression.