American A.I. Sovereign Wealth Fund Act

This bill would create a federal tax on companies that make more than $200 million a year from AI data centers, AI computer chips and equipment, large AI models, or advanced robotics. The tax would be paid in newly issued company shares so that the federal government holds 50 percent of each such company, plus half of any shares the company issues later. The shares would go into a new American A.I. Sovereign Wealth Fund run by a 7-member commission that would vote the shares and name board members. Each year, an amount equal to 5 percent of the fund's value could be spent by Congress on direct payments to Americans and on health care, education, housing, and the environment. The bill would also require these companies to separate their AI business from other businesses within 90 days and would add reporting rules and penalties.

Full text and official record on Congress.gov

Sponsors

• Bernard Sanders Independent sponsor
• 0 cosponsors