This was the thread that introduced it to me.
They go somewhat into detail, but they also link a very well dome and researched Tumblr post that clearly explains everything far better than anyone else has thus far.
The basic idea is that it functions like a Pornography Ban, as well as a ban on End-to-End Encryption; all in the name of protecting kids.
But they get to define what is or isn't allowed under the act.
If you've seen people recently talking about the Book Bans and other such similar things in the US right now; a lot of right wing politicians are banning things under the guise of "Pornography" while the books tackle things such as racism or LGBT topics.
Aside from that, the bill's core tenet is to make platforms liable for what users post--which might not sound horrible on the surface until you see that this means companies have to start heavily moderating things like Sex Ed, LGBT Topics, and whatever else they deem dangerous
Again, most of this is in the above linked Tumblr post.
The real thing you need is
What you need to so to help.