The article has extremely misleading title. No one is proposing to end NSA phone call sweep, the US government (I say US government because I believe both D and R are complicit on this) is simply proposing that the task of record collection and holding is shifted to the actual phone companies. While it sounds good in theory - the big evil government is no longer monitoring and collecting your phone calls - in the end nothing changes. The phone calls are still collected, and the government can still access them on a whim retroactively. The end result is the same - the government has access to all of your data, present and the past. One could argue that it will provide stronger protection because now US government might actually require court order to get access to the data, but given the past revelations about NSA, I'm sure the regular court system will be circumvented in favor of "special secret courts" that will rubber-stamp anything that comes across.
If this does come to pass, part of me really wishes the phone companies would put "NSA data collection fee" as a line item on the bill to remind the citizens of the constant surveillance and its cost to us. Would be nice way to kick the citizens in the balls when we're already down.