Depending on who you ask, today's Senate Judiciary Committee approval of the Performance Rights Act (S. 379) is either a royalty or a tax - and no one likes taxes except those who collect. The music industry, which continues to suffer thanks to the transition to the digital age, is looking to collect royalties from radio stations which broadcast their music.

The possibility of a royalty (or tax) took another step closer to reality today as the Senate Judiciary Committee approved the bill. Of course this doesn't mean it's a law yet, but it's getting closer by the minute.

"Today we are one step closer to righting a wrong that has existed since the early days of radio; one step closer to winning the fight for fundamental justice that has been waged by countless artists and musicians over the last 80 years," said Jennifer Bendall, executive director of the musicFIRST Coalition.

The NAB, or National Association of Broadcasters, bitterly oppose the bill.

"In recent years, the record labels have seen sales of albums decline as more listeners opt for digital downloads. However, radio remains the number one promotional vehicle for music – it’s not responsible for the label’s resistance to the digital age, and it shouldn’t be on the hook to fix it. Radio already provides between $1.5 to $2.4 billion dollars annually in music sales for artists and record labels. By pushing a tax on local radio, record labels are biting the hand that feeds them."

The bill still has to reconcile with the House of Representatives' version (where it hasn’t yet seen a full vote), and also needs to be voted before the whole of the Senate. If it survives those challenges, it then goes to President Obama, who will either sign it into law or veto it.

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