From my (IANAL) read, it looks like somebody realized that CIPA could be construed to criminalize recording IP addresses as wiretapping, and yet basically every website and online service does it to prevent DDoS attacks, abuse, and fulfill legal obligations. And so this bill specifically excludes "identifying the originating number or other dialing, routing, addressing, or signaling information reasonably likely to identify the source of a wire or electronic communication but not the contents of a communication" when done as part of a commercial purpose from being part of the definition of wiretapping.
I know that the EFF's job is to maximize privacy online, and I'd even agree with (and have donated to) that mission. But unless there's some subtle legal argument here, I don't get the uproar. Companies have been collecting IP addresses for the last 30 years, you are not realistically going to stop that practice without breaking the Internet, and so I don't see much of a change from status quo other than not having a law that can be used to fine tech company execs billions of dollars for wiretapping.