This is big news, as congress is actually considering it... The bill was introduced by Rep. Barney Franks and co-sponsored by Rep. Ron Paul, among others.
If passed this would decriminalize personal possession at the United States Federal level, states laws could still be enforced.
Specifically this bill would allow for someone to have up to 100g within their household and up to 1oz (not-for-profit) on their person out in public. However, I truly believe that if people do not touch base via any means with their representatives it will not go through, so please get in contact!

Link to rawstory: http://rawstory.com/news/2008/Congre...onal_0417.html
Link to NORML's take action page: http://capwiz.com/norml2/home/