Legislation would impose a one-time tax on AI companies to create a sovereign wealth fund distributing $1,000 annual payments to Americans.
Sen. Bernie Sanders introduced a bill requiring AI companies with over $200 million in annual revenue to transfer 50% of their shares to a federally managed fund. The proposed fund, valued at approximately $7 trillion, would distribute a 5% dividend annually, equating to over $1,000 per American.
The legislation targets firms crossing the revenue threshold, mandating equity transfers to ensure public ownership. An independent commission would oversee the fund, using voting shares to influence corporate decisions. Companies with mixed AI and non-AI operations would need to separate them to comply.
Sanders argued the measure would democratize AI benefits, shifting profits from corporations to the public. The bill’s structure ensures companies, not taxpayers, absorb valuation risks.