It looks as tho Wired predicts that the Prez will veto the Copyright bill that the senate has passed. According to the latest article on Wired, "But the Bush administration also doesn't want a copyright czar, a position on par with the nation's drug czar Congress created in 1982 to wage the War on Drugs. Lawmakers, however, sent him the package anyway."
No doubt, the mood on the hill is pretty gnarly. Bush is drowning in economy woes, the war on terror, the war on drugs. Apparently the war on copyright is just not in their scope.
Read more here on Wired.