Two days after massive internet protests, lawmakers on Friday indefinitely postponed anti-piracy legislation SOPA and PIPA. Senate Majority Leader Harry Reid announced he has delayed a vote on the Protect IP Act (PIPA) scheduled for Tuesday. House Judiciary Committee Chairman Lamar Smith then said his panel would not consider the Stop Online Piracy Act (Sopa) until a compromise was reached. [Nevada Senator Harry Reid's statement, in it's entirety: ](http://reid.senate.gov/newsroom/pr_012012_reidstatementonintellectualpro...) > "In light of recent events, I have decided to postpone Tuesday's vote on the PROTECT I.P. Act. > > "There is no reason that the legitimate issues raised by many about this bill cannot be resolved. Counterfeiting and piracy cost the American economy billions of dollars and thousands of jobs each year, with the movie industry alone supporting over 2.2 million jobs. We must take action to stop these illegal practices. We live in a country where people rightfully expect to be fairly compensated for a day's work, whether that person is a miner in the high desert of Nevada, an independent band in New York City, or a union worker on the back lots of a California movie studio. > > "I admire the work that Chairman Leahy has put into this bill. I encourage him to continue engaging with all stakeholders to forge a balance between protecting Americans' intellectual property, and maintaining openness and innovation on the internet. We made good progress through the discussions we've held in recent days, and I am optimistic that we can reach a compromise in the coming weeks." > More analysis coming soon.