This would mean that atomic midnight and solar midnight would drift apart from each other by seconds per decade. That's madness.
I've been hearing about this for years, but I mostly disregarded it because it was so ludicrous on its face that I was sure it was just some reporter not knowing what he was talking about. But it sounds like it's actually for real.
A proposal to fundamentally redefine UTC will come to a conclusive vote in January 2012 at the Radiocommunications Assembly of the ITU-R in Geneva. It would halt the intercalary adjustments known as leap seconds that maintain UTC as a form of Universal Time, and eliminate the requirement that time services transmit the varying residuals (DUT1) between Coordinated Universal Time and Universal Time of day. If the proposal is approved, UTC would not keep pace with Earth rotation and the value of DUT1 would become unconstrained.
Adverse impacts from redefining UTC have not been extensively researched and documented. The implications extend from technical infrastructure to legal, historical, logistical, sociological and economic domains. Affected technologies may include (but are not limited to) applications in astronomy, astrodynamics and celestial mechanics, geodesy, ground-to-space satellite communications, navigation, remote sensing and space surveillance.