Senator Proposes 50% Stock Tax on Largest AI Companies
A senator announced plans to introduce legislation that would impose a one-time 50% tax on stock of the largest AI companies. The measure would create a sovereign wealth fund giving the public an ownership stake and input on AI development.
BenzingaA senator announced plans to introduce the American AI Sovereign Wealth Fund Act on Tuesday. The bill would require the largest AI companies to transfer a 50% ownership stake to the public through a one-time tax on stock rather than on profits. The proposed fund would give the American public a direct ownership stake in the largest AI companies and a say in how the technology develops.
The senator argued that collective human knowledge built AI, drawing on generations of books, songs, artwork, journalism, and scientific research.
The announcement described the tax as applying directly to stock holdings of major AI firms. The measure is framed as a response to the role of publicly funded and collectively created knowledge in AI development. A cryptocurrency company chief technology officer called the proposal an attack on freedom of speech.
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