Epistemic status: speculative
Andrew Yang understands AI X-risk. Tom Steyer has spent $7 million on adds in early primary states, and it has had a big effect:
If a candidate gets more than 15% of the vote in Iowa (in any given caucus), they get delegates. Doing that consistently in many caucuses would be an important milestone for outsider-candidates. And I'm probably biased because I think many of his policies are correct, but I think that if Andrew Yang just becomes mainstream, and accepted by some "sensible people" after some early primaries, there's a decent chance he would win the primary. (And I think he has at least a 50% chance of beating Trump). It also seems surprisingly easy to have an outsize influence in the money-in-politics landscape. Peter Thiel's early investment in Trump looks brilliant today (at accomplishing the terrible goal of installing a protectionist).
From an AI policy standpoint, having the leader of the free world on board would be big. This opportunity is potentially one that makes AI policy money constrained rather than talent constrained for the moment.
To clarify again, I'm more compelled by Yang's openness to thinking about this sort of thing, rather than proposing any specific plan of action on it. I agree with you that specific action plans from the US executive would probably be premature here.
It's compelling because it's plausibly much better than alternatives.
[Edit: it'd be very strange if we end up preferring candidates who hadn't thought about AI at all to candidates who had thought some about AI but don't have specific plans for it.]