Senator Bernie Sanders unveiled a sweeping proposal to seize control of the AI sector and funnel wealth back to citizens, and reshape market dynamics. The bill would impose a one‑time 50 percent tax on the stock of any AI firm topping $200 million in annual AI sales, creating a sovereign wealth fund projected at $7 trillion. Sanders says the plan would return billions to Americans.

A newly bipartisan created Independent Commission for Democratic AI, appointed by the president and confirmed by the Senate, would hold voting shares and could block corporate moves deemed harmful to the public. The commission would report regularly to Congress, ensuring strict transparency and public oversight, with authority to audit company finances.

Tech leaders pushed back, with OpenAI’s Sam Altman and Anthropic’s Dario Amodei expressing limited support for public benefits but rejecting a majority stake transfer. Sanders framed the effort as a remedy for corporate greed, promising to campaign on the fund’s creation. Critics argue the tax could deter investment and slow AI innovation, warning of competitive disadvantages. Supporters claim it could democratize AI benefits for nationwide.