To add to an earlier post on the matter, Phantom Galleries posted news on the Orphan Works bill that has moved to Congress on April 24: Orphan Works Bill makes its way into Congress - ACT NOW to protect your ©!

The article explains the original purpose of the bill and lists the ways for artists to get heard by their representatives.

Here is more information on the history of this legislation:

IPA - Orphan Works Resource Page for Artists
Little Orphan Artworks, By Lawrence Lessig

More information about the bills and their up-to-date status:

The Orphan Works Act of 2008. Bill # H.R.5889
The Shawn Bentley Orphan Works Act of 2008. Bill # S.2913

News from other sources:

Update on 2008 Orphan Works legislation - April 24, 2008
The SAA Orphan Works Blog - has links to text of both versions of the bill
Statement of Marybeth Peters, The Register of Copyrights, before the Subcommittee on Courts, the Internet, and Intellectual Property, Committee on the Judiciary - March 13, 2008