sounds like ex post facto law to me. Under the terms of my employment I was not required to have an ATP cert, now the government requires one for me to remain employed? Hmm...
I think some people are forgetting many f'd FOs out there, that have been on the street 1.5+ years, some of whom will have difficulty ponying up for currency and checkride if they need it.
While not a bad move on the part of Congress, I think this will have little to no effect. When the next hiring wave hits, the guys that have been instructing for the last 5+ years will still walk straight from the Seminole into the right seat of the RJ. Then companies will get waivers from the FAA to hire below 1500 hrs again.