You can remote lock or wipe the phone now, but the thief can plug it in to a computer, reset it to default settings, put their sim card in, and use it or sell it. So currently, just your data is protected. What they are talking about with the kill switch is making the hardware unusable.
I know.
The problem for people who are pissed at their phone theft is that they don’t even do the simple stuff, and they start asking for silly legislation like this.
If they get a for-real kill switch, mark my words, hackers are going to find a way to brick people’s phones while they’re still in the possession of the owners.