We knew the limited data plans were coming to Big Red thanks to comments made last month by CFO John Killian - but as it stands, Verizon is in the process of migrating their data plans to a tiered solution, similar to AT&T's change last month. The rumor is that the strategy will be implemented on July 29th. Though somewhat shocking, it's certainly not out of the ordinary - Verizon and AT&T tend to mimick eachother when it comes to business decisions (with increased early termination fees being the most recent thing), and Verizon has been discussing the possibility of tiered data for some time now. Pricing is unknown at the moment, but I'd be willing to guess that it'll be somewhere in the ballpark of AT&T's plans ($25 for 2 GB, $15 for 200 MB).
Here's to hoping that the other two nationwide carriers stay out of this fight. Let the speculation begin!