Three Democratic House lawmakers unveiled legislation Thursday to tax artificial intelligence companies and use the proceeds to fund a jobs program aimed at offsetting AI’s impact on workers, marking one of Congress’ most ambitious efforts yet to redistribute the industry’s gains.
The AI Tax and Work Protection Act, championed by Reps. Greg Casar (Texas), Valerie Foushee (N.C.) and Sara Jacobs (Calif.), would impose a levy on AI developers to fund the program, which is dubbed the Work Protection Administration.
The bill comes amid a growing push from progressive lawmakers on Capitol Hill to tax AI companies. Sen. Bernie Sanders (I-Vt.) introduced a similar bill in June, the American AI Sovereign Wealth Fund Act, which would impose a one-time 50 percent tax on the stock of leading AI companies to be funneled into a sovereign wealth fund.
Leading AI companies would pay a tax on either the price of the tokens they sell or the revenue they generate selling their products, depending on which value is higher. The tax would also be increased if the unemployment rate rises.
“Right now, the federal government is doing nothing to protect workers from the threat of AI mass unemployment,” Casar said in a statement. “Our bill would protect American workers by making big AI companies pay their fair share.”
Read the full article here