{"id":245,"date":"2026-06-01T18:40:15","date_gmt":"2026-06-01T18:40:15","guid":{"rendered":"https:\/\/smartmovinghome.com\/?p=245"},"modified":"2026-06-01T18:40:15","modified_gmt":"2026-06-01T18:40:15","slug":"sanders-proposes-sovereign-wealth-fund-to-harness-ai-profits-for-public-good","status":"publish","type":"post","link":"https:\/\/smartmovinghome.com\/?p=245","title":{"rendered":"Sanders Proposes Sovereign Wealth Fund to Harness AI Profits for Public Good"},"content":{"rendered":"
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Sen. Bernie Sanders on Monday announced he will soon introduce legislation that would give the American public \u201ca direct ownership stake\u201d in the largest artificial intelligence companies in the U.S. by establishing a sovereign wealth fund, which would ensure everyone benefits from the rapidly advancing technology.<\/p>\n

Sanders (I-Vt.) wrote in a New York Times<\/em> op-ed that his American AI Sovereign Wealth Fund Act would create the new fund by imposing a one-time, 50% tax on the stock of OpenAI, Anthropic, and other AI behemoths. The sovereign wealth fund, a government-owned investment vehicle, would both \u201cgive the public a direct role in determining the future of this technology\u201d and \u201cguarantee that the trillions of dollars potentially generated by AI are used to improve the lives of all of us \u2014 not simply to make the richest people in the world even richer.\u201d<\/p>\n

The senator emphasized that \u201cthis is not an original idea,\u201d noting that scholars and even leading AI companies have proposed some version of a public wealth fund to broadly distribute AI-related gains. Sanders also observed that Norway and Alaska have sovereign wealth funds, and that \u201ceven President [Donald] Trump, in an executive order, has proposed establishing an American sovereign wealth fund.\u201d<\/p>\n

\u201cI recognize that for the government to have a major stake in a company, particularly one for which AI is only part of its business, is complicated,\u201d Sanders wrote. \u201cMore details \u2014 including the specific spending priorities and the mechanics of implementation \u2014 will be included in the legislation I unveil in the coming weeks.\u201d<\/p>\n

\u201cBut the principle is simple: When a public resource generates wealth, the public should share in that wealth. AI is being built on a public resource far more valuable than oil: the accumulated knowledge, creativity, and labor of mankind,\u201d he continued. \u201cThe future of AI and the fate of humanity must not be decided behind closed doors in Silicon Valley. It must not be dictated by billionaires seeking to maximize their power and profit. It must be decided by workers, parents, teachers, artists, scientists, communities and the American people. It\u2019s our future. We must decide it.\u201d<\/p>\n

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Sanders has been among the most prominent voices expressing grave concerns about the potential for AI to turbocharge inequality and spark catastrophic unemployment. Last year, Sanders\u2019 office released a report warning that AI could eliminate nearly 100 million U.S. jobs over the next decade.<\/p>\n

\u201cCorporations are already using AI to cut jobs. Amazon, Walmart, UnitedHealth Group, JPMorgan Chase, and other companies are openly telling investors that AI will allow them to slash payrolls \u2014 even as they post tens of billions in profits and reward CEOs with pay packages of $25 million, $35 million or more,\u201d the report said.<\/p>\n

Sanders\u2019 call for an AI sovereign wealth fund comes days after a pair of progressive lawmakers \u2014 Sen. Elizabeth Warren (D-Mass.) and Rep. Greg Casar (D-Texas) \u2014 separately called for new taxes on AI to fund jobs initiatives, universal healthcare, and other programs to prevent the kinds of large-scale economic displacement that experts and corporate executives say is looming.<\/p>\n

\u201cTaxing AI is one way we make sure the winnings from AI benefit all Americans, rather than channeling them only to the wealthy few,\u201d Warren wrote in TIME<\/em> last week. \u201cIf millions of people lose their jobs to AI, we\u2019ll need the funds to deliver universal healthcare so those workers are not bankrupted by a visit to the doctor.\u201d<\/p>\n

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The bill would impose a one-time 50 percent tax on AI giants\u2019 stock to give the US public a direct ownership stake.<\/p>\n","protected":false},"author":1,"featured_media":244,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interesting"],"yoast_head":"\nSanders Proposes Sovereign Wealth Fund to Harness AI Profits for Public Good - Smart Moving Home<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/smartmovinghome.com\/?p=245\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sanders Proposes Sovereign Wealth Fund to Harness AI Profits for Public Good - Smart Moving Home\" \/>\n<meta property=\"og:description\" content=\"The bill would impose a one-time 50 percent tax on AI giants\u2019 stock to give the US public a direct ownership stake.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/smartmovinghome.com\/?p=245\" \/>\n<meta property=\"og:site_name\" content=\"Smart Moving Home\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-01T18:40:15+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/smartmovinghome.com\\\/?p=245#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/smartmovinghome.com\\\/?p=245\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/smartmovinghome.com\\\/#\\\/schema\\\/person\\\/ec0d70042821fd684a174c8d0e8becfa\"},\"headline\":\"Sanders Proposes Sovereign Wealth Fund to Harness AI Profits for Public Good\",\"datePublished\":\"2026-06-01T18:40:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/smartmovinghome.com\\\/?p=245\"},\"wordCount\":635,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/smartmovinghome.com\\\/?p=245#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/smartmovinghome.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/172ef094a4f7ae7c106016001241bdc1.jpg\",\"articleSection\":[\"Interesting\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/smartmovinghome.com\\\/?p=245#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/smartmovinghome.com\\\/?p=245\",\"url\":\"https:\\\/\\\/smartmovinghome.com\\\/?p=245\",\"name\":\"Sanders Proposes Sovereign Wealth Fund to Harness AI Profits for Public Good - 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