The Turnip's draft bill needs to pass the House, pass the Senate, and pass the President. Good luck Turnip. About the only thing this Turnip will pass is gas.
It helps if you read the actual statute. Here is the relevant part that I already posted:
Congress could up until Jan 01 2018 restrict the Secretary of the Treasury from selling/canceling the SPS without legislative approval. That time limit has expired. If you recall from school house rock a bill must go through three steps to become/amend a law. First a bill starts in the house and if they vote to approve it then it goes to the Senate. If the Senate approves it then the President will sign it into law or veto it.
Considering that Water's bill will need to go through that process it incredibly unlikely it would make it to Trump and if it did he would likely veto it.
So what is the fear fairy that haunts your dreams?