I think lane splitting should be legal and helmet laws should go away. If you don't want to split lanes, don't. No one will force you to do so. Don't want to wear a helmet, don't. No one will force you to ride without a helmet if you want to. Whatever became of choice?
I see the two as very different. I do not agree with helmet nor seatbelt laws. The government should not tell me what to do with my body that doesn't directly affect others (insurance is not a reasonable reason). Of course, I would NEVER ride without a helmet or seatbelt.
Lane splitting, on the other hand, I believe, poses much greater risks to OTHER PEOPLE of being hit by motorcyclists, many of whom will certainly abuse the privilege of lane splitting improperly. It is complicated to know when and how to do it safely. There are also complicated legal uncertainties about liability when a collision occurs due to lane splitting. It is very possible for two cars to be totally in their lanes and yet still move enough (not even intentionally) to suddenly make no room for a motorcycle to go between them.
In either case, I agree with gPink that this is not a Federal-level issue in the first place.