From research and reading the bill this seems to be not at all what the bill is about.
Sponsored by Conyers and Wexler among others, such privatizing and reductions in freedom are contrary to both men's Ideology. What I suspect is happening has more to do with crony capitalism, and weaponizing research that would be something they oppose.
If such open publishing can be advanced by this bill instead of reversed, then these folks and others who are now looking at it can certainly amend the bill to insist that any government funding for science be openly published with a narrow exclusion for actual operationally secret work.
I will follow this and keep track of what happens.