Congress Unveils Bipartisan Blueprint For Federal AI Rules Of The Road
By CU Today Staff —
WASHINGTON—A bipartisan group of House lawmakers has released a discussion draft of the Great American AI Act, a proposal that would establish a federal framework for governing artificial intelligence as Congress grapples with balancing innovation, consumer protection and national security concerns surrounding the rapidly advancing technology.
The draft was led by Jay Obernolte (R-CA) and Lori Trahan (D-MA), with support from Reps. Scott Franklin, Suhas Subramanyam, Erin Houchin and Scott Peters. Rather than introducing the bill immediately, the lawmakers said they are seeking feedback from industry stakeholders, researchers and the public before advancing formal legislation.
According to the sponsors, the proposal is intended to create national standards for AI development and oversight while avoiding a patchwork of state-level regulations. The lawmakers said the framework would establish accountability for advanced AI systems, address risks to national security and the workforce, and preserve U.S. competitiveness in the global race to develop artificial intelligence.
The release comes as lawmakers, regulators and businesses continue to debate how best to govern AI technologies that are rapidly reshaping industries, including financial services. Credit unions, banks and fintech firms are increasingly using AI for fraud detection, lending, member service and operational efficiency, while regulators are examining issues ranging from transparency and bias to cybersecurity and consumer protection.
Obernolte said Congress must take a bipartisan approach to regulating AI that promotes innovation while protecting Americans from emerging risks, while Trahan said the framework is designed to address growing threats to national security, safety and workers without stifling technological advancement. Both lawmakers emphasized that the discussion draft is intended as a starting point for broader debate before formal legislation is introduced.
Originally reported by CU Today.