Senator Reid delays PIPA vote as backlash mounts

Senator Harry Reid has announced that next Tuesday’s vote on the Protect-IP Act has been canceled, but the bill is still far from dead. While Reid’s statement vaguely cites “recent events” (i.e. massive voter disapproval) he insists that “counterfeiting and piracy cost the American economy billions of dollars and thousands of jobs each year” — the same heavy caveat of economic doom that other SOPA / PIPA supporters in Congress have provided since the controversy began. Reid says he’s optimistic that a compromise will be reached in the coming weeks, as members of Congress work with stakeholders to craft legislation that’s more likely to be successful when a vote finally occurs.