Reps. Jay Obernolte (R-CA) and Lori Trahan (D-MA) released a nearly 270-page discussion draft of the Great American Artificial Intelligence Act on June 4, a bipartisan bid to create the first comprehensive US federal framework for governing AI. The draft authorizes $100 million a year for fiscal 2027-2029 and formally codifies the Commerce Department's Center for AI Standards and Innovation.
Its most contested provision would preempt state laws specifically regulating the development of AI models for three years, while leaving rules on AI use and deployment intact. Large frontier developers, those above $500 million in annual revenue, would have to publish safety frameworks, report critical incidents, and submit to semi-annual third-party audits.
The text is a discussion draft, not yet formally introduced, and is open for public feedback. "The threats AI poses to our national security, our safety, and our workforce are here and growing," said Trahan, while co-sponsor Rep. Erin Houchin (R-IN) framed it as a race: "America should lead the world in artificial intelligence, not regulate ourselves into falling behind China."