The Great American AI Act Mirrors California’s AI Rulebook and Would Preempt It for Three Years

The silent clock on federal AI policy The comment period on the SEC’s Regulation Crypto Assets proposal closes at 11:59:59 p.m. Eastern tonight, which is 03:59:59Z on October 21. Treasury’s NPRM comment period closed at 03:59:59Z today. Together they are the last public window before the GENIUS Act compliance stack takes effect on January 18, 2027. After tonight, that stack has zero open comment periods. While the federal government finalizes these rigid compliance requirements, the broader framework for artificial intelligence remains stuck in a state of legislative paralysis. Three federal vehicles at a standstill The primary vehicle intended to settle American AI governance, the Great American AI Act, exists only as a 269-page discussion draft released on June 4, 2026, by Representatives Lori Trahan and Jay Obernolte.

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