It doesn't really have anything to do with TikTok (I was wondering why when I first heard about it why our Senate was turning on their Chinese Masters) What it really is is the complete destruction of privacy and the First Amendment.
To boil it down to its essence:
If you use an electronic device to communicate ANYTHING that our rulers (elected, appointed or bureaucrats) don't like, they can throw you in prison for 20 years and fine you $1,000,000.00 WITHOUT TRIAL.
And "AI" will continuously monitor the entire electronic spectrum for 'wrong-think". What they intend makes what the NSA , FBI. CIA (and Google) have been doing so far look like no more than a milder version of "Mrs. Kravitz" looking out the window at the Steven's house in the old Bewitched tv series.