Of course, it's all for the Children. :
Basically, the idea is that our friendly and caring feds in DC want to protect our little ones from any harmful substances. So, that means that they want anyone selling anything intended for children the age of twelve or under needs to have every single component tested. Lets take a pair of boys blue jeans as an example. So a manufacturer is making the boy's pants, now the company needs to have tested every single batch of zippers, buttons, thread, cloth, lining, studs, and tags. For every size. And the testing isn't going to be cheap, either.
And this legislation applies to things already made, too. So that will make it illegal for thriftstores, ebay, garage sales, etc. to sell un-tested things for children. The implications are really endless.
I would very strongly recomend you to read this article, to help you understand little more clearly what this bill could do: http://grecowoodcrafting.wordpress.com/2008/12/05/national-bankruptcy-day/
I know that I have some letters to write tomorrow! And I urge you all to sign the petition!