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The buzziest bit of the new artificial-intelligence bill from Reps. Jay Obernolte, a California Republican, and Lori Trahan, a Massachusetts Democrat, is probably the section that would let Washington preempt state rules on AI development for three years. For me, the more interesting part is its bet on auditing as a middle path between Silicon Valley self-regulation and an FDA-style premarket approval regime for frontier models.

Earlier this year, several dozen AI policy folks signed onto a proposal, “Frontier AI Auditing: Toward Rigorous Third-Party Assessment of Safety and Security Practices at Leading AI Companies” that “outlines a vision for frontier AI auditing, which we define as rigorous third-party verification of frontier AI developers’ safety and security claims, and evaluation of their systems and practices against relevant standards, based on deep, secure access to non-public information.”

What does that mean? For starters, an audit is not a permission slip. Rather than making a company clear a government gate before shipping, as the FDA does with drugs, an independent reviewer with access to the confidential innards of an AI company would check the latest model against a set standard. Think of it as how an accountant signs off on a public company’s books. Private firms do the examining while a public body stays in the background. Maybe it sets the rules, accredits the examiners, and holds the enforcement hammer.