To clarify, Congress passed a law in 2010 that requires all 121 pilots to hold an ATP this August. Not the FAA. They also allowed the FAA to change the requirements to receive an ATP. The FAA has published an NPRM for changing the ATP requirements (reduced TT for military pilots and ERU/et al. grads, mandatory classroom and sim time) but as of yet there have been no changes to Part 61.