A proposed bipartisan legislation, the Preserving American Dominance in AI Act of 2024, seeks to establish an AI safety review office within the Department of Commerce. Introduced by Sen. Mitt Romney and supported by other senators, the bill aims to aid frontier AI model developers by requiring a review process for assessing extreme risks tied to AI systems before their development. The initiative involves collaborating with the National Institute of Standards and Technology's AI Safety Institute to promote best practices in the industry. The bill seeks to balance ensuring America's AI competitiveness while addressing national security concerns by safeguarding against risks associated with the deployment of advanced AI models. It introduces penalties for non-compliance and mandates strict safety and reporting requirements for AI developers and infrastructure providers engaged in training advanced AI systems.