A White House-backed committee draft seeks action before August recess, including a task force with antitrust exemption and power to override state laws.
Proposals target athlete pay, transfers, eligibility, coaching salaries and pooled media rights, while agencies are told to review schools' compliance on NIL, revenue-sharing and other athletics rules.
The administration says nearly 500,000 annual opportunities and about $4bn in scholarships are at risk, warning financial pressure could push universities into debt and squeeze women's and Olympic sports.
Will new federal rules cap athlete earnings to save college sports?
Can federal intervention save Olympic sports, or will money still flow only to football?
Is a new federal task force the answer to college sports chaos?