This article discusses some of the considerations that the DOT is considering to reduce the accidents caused by distracted driving. There is currently no federal law to regulate cell phone use while driving, but many states have passed laws requiring hands free devices and no texting.
I think that this should be a last resort. If laws are passed and enforced, and there still is not a decrease in accidents, there may be a case for going to this extreme measure.
I think that this is an example of technology allowing us to be lazy. Fund awareness campaigns, pass laws, and strictly enforce them. These tactics helped decrease fatalities for drinking and driving by 49% from 1991-2011 (http://www.centurycouncil.org/drunk-driving/drunk-driving-statistics). Texters and drivers should be given the same amount of education and awareness that drunk drivers are given.