Right now this is a proposal by the EU commission (which is composed of representatives from the member states), but it won't become EU law until it's approved by the EU parliament.
I hope this will die in parliament. If you live in a EU country this is a good time to email your representative!
I think this summary by Julia Reda (a member of parliament) was really good:
This will not die in Parlement, for the simple reason that the Parlement is a toothless tiger. It's an instrument to make it look like the EU is democratic, while it's not.
If this is approved by the EC (the only actual institution within the EU with any power) it is just going to be law, and nobody will be able to stop it.
I hope some day soon enough people will see that if we want to have any kind of future in Europe in which we and our children are able to live with dignity we need to put our political differences aside and destroy this ideological monster together, before it destroys us.
I hope this will die in parliament. If you live in a EU country this is a good time to email your representative!
I think this summary by Julia Reda (a member of parliament) was really good:
https://juliareda.eu/2018/05/censorship-machines-link-tax-fi...
(although biased, she is not in favour of filtering and monitoring)