So far, the law doesn't have a majority. Even if they manage to push it through the Commission and Parliament, it's very unlikely to survive contact with the European Court of Justice.
In case you didn't know, the court retroactively voided these agreements. EU-US data transfers have been illegal for around 25 years or so thanks to that. People can sue you and win, even though the data protection authorities don't do much.
Yes. The court voided privacy shield in a ruling known as Schrems-II. The commission then created the Data Privacy Framework which is esentially the same as privacy shield against the will of the parliament, re-enabling transatlantic data transfer.
