What it will do is put more accountability on homeopathic OTCs that contain dangerous ingredients or fail to meet basic safe manufacturing and labeling standards that would prevent as in the case of the teething tablets, wildly varying levels of a deadly poison belladonna.
And I wouldnt sing the praises of Orrin Hatch.
http://utahstories.com/2015/02/corporate-puppet-masters-and-orrin-hatch/
You have to understand that many of the very same evil pharmas you claim to hate have also gotten into the business of herbal and homeopathic remedies just because they are not FDA regulated, and they have a powerful lobby and politicians like Hatch and also Tom Harkin in their pockets.
I do not trust the FDA any more than many other government agencies. From the information put out, I do not see any real criteria for what the limits of their regulation would be, nor any exclusions.
And based on past efforts, this caution is reasonable.
In past, some advocates have said that non-culinary spice herbs should be regulated, required to have standardized active ingredients, and sold only in measured doses, aka pill form.
Others have said that vitamins should be available by prescription only.
Still others would require that all OTC supplements undergo the rigorous and exorbitantly expensive approval process, which almost none would be willing to pay for, it taking decades just to recover the expense.
Nonsense like this, and many other past abuses, are why this policy should not be respected until it is put into print. Having worked as a bureaucrat, I do not trust other bureaucrats who claim to be invested only in the public good.