Awesome!

U.S. Rep. Lamar Smith (R-Texas) announced today that the House Judiciary Committee, which he heads, “will postpone consideration of the legislation until there is wider agreement on a solution.” Smith added that he has taken critics’ concerns “seriously.”

“It is clear that we need to revisit the approach on how best to address the problem of foreign thieves that steal and sell American inventions and products,” Smith said in today’s statement.

The decision to wave the white flag on SOPA comes just hours after U.S. Senate leaders announced they had postponed their vote on the Protect IP Act (PIPA) scheduled for Tuesday. Senate Majority Leader Harry Reid (D-Nev.) said that the recent criticism on both SOPA and PIPA forced his hand, but Reid did acknowledge that he hopes to reach an agreement with the bill’s foes “in the coming weeks.”

This is what happens when the people speak and democracy takes action. Or, if you’re Chris Dodd, it’s an “abuse of power” by we the people.