I dont really care how this would affect Melania and Barron Trump as the American news media sites do, but if this passes it could affect a lot of people who have made aliya to Israel. And more so it could affect a lot of people who are thinking of or even in the stages of planning and applying for their aliya to Israel. People who make aliya don't necessarily want to give up their original citizenship. They usually want to keep it, either simply to make travel easier as olim often travel a lot (eg to visit family left behind or for work, etc), and then there is the old Jewish thing about having two passports just in case...

According to the proposal, an American citizen with dual citizenship would have one year to renounce the second citizenship. If by the end of the year one did not renounce, that person would automatically be stripped of their US citizenship.

The article linked above points out that this is in conflict with the 14th Amendmentso it has hurdles to overcome.

I also think President Trump, considering the ramifications to his family, will put forth some effort in getting this bill buried. 

I also think they wont do this considering how it would affect many other people and, probably more importantly, losing all that foreign tax money by American citizen expats who have moved to other countries and taken up citizenship where they live. Strip them of their citizenship and suddenly tens/hundreds of thousands of people no longer have to file, and [sometimes] pay, US taxes.

Still, it is a worrying trend that this si being proposed, and form the Republican no less!