First Amendment in Jeopardy?

Steve Watson's latest post (at InfoWars.net) tells us that our First Amendment rights could be in trouble with the current Lobby reform bill. With the redefinition of "lobbying", bloggers could fall under same net as K Street type lobbyists.

"Section 220 of S. 1, the lobbying reform bill currently before the Senate, would require grassroots causes, even bloggers, who communicate to 500 or more members of the public on policy matters, to register and report quarterly to Congress the same as the big K Street lobbyists. Section 220 would amend existing lobbying reporting law by creating the most expansive intrusion on First Amendment rights ever. For the first time in history, critics of Congress will need to register and report with Congress itself."