Thanks in large part to the White House's opposition, SOPA has been shelved. However, the similar Protect IP Act is still going before the Senate:

A vote on the controversial Stop Online Piracy Act (SOPA) has been delayed indefinitely, but the fight against Internet censorship continues: will go forward with its site-wide blackout on Wednesday, January 18, to protest the Senate’s Protect IP Act (PIPA), Digital Trends has confirmed. PIPA, a similar bill to SOPA, is scheduled to go up for a vote before the Senate on January 24...While SOPA has received the brunt of the backlash, PIPA contains similar provisions, which critics say could usher in an unprecedented level of government-enforced censorship online, harm the underlying infrastructure of the Internet, and hamper online innovation by stifling investment in Internet startups due to a more risky investment environment.

The Reddit blackout on January 18th is continuing as planned. This SOPA fight is a great example for those of you who say that Democrats and Republicans are the exact same and that President Obama doesn't do anything with his power. Do you want to bet that a Mitt Romney White House would have killed SOPA from its bully pulpit? Highly unlikely.