The RIAA has decided that the current huge statutory damages allowed under copyright law, are not enough. It is calling for a fine of $1.5 million for every CD that is downloaded.
The call has come during a US House committee into the PRO-IP Act. It is worthwhile pointing out that Google's top copyright lawyer William Patry has already called the bill the most "outrageously gluttonous IP bill ever introduced in the US."
However the music industry seems to be pushing for more rights, longer terms of protection, draconian criminal provisions, and civil damages that bear no resemblance to the damages suffered. However the RIAA is unlikely to get its own way. Other people have testified that the current levels of fining are already obscene.
Currently you can be fined $9,000 per song when each track costs a dollar.