Writing in The New York Times, the Vermont independent outlined the American AI Sovereign Wealth Fund Act, which would impose a one-time tax paid not in cash but in stock from companies including OpenAI, Anthropic, and xAI.
Under the proposal, the federal government would acquire voting shares and equal board representation at each targeted company, granting Washington the power to block corporate decisions deemed harmful to citizens. Sanders argued that AI has been built on humanity's collective intelligence—books, scientific research, journalism, and creative works—much of it used without permission or compensation. He called artificial intelligence "the most transformational technology in the history of the world" and contended that its future should not be determined by what he termed "Big Tech oligarchs." The measure would ensure that proceeds from the fund eventually flow to Americans as direct payments and guaranteed access to healthcare, education, and housing, according to Common Dreams.
The timing of Sanders's announcement proved notable: TheStreet reported that Anthropic confidentially filed for an initial public offering the same day the op-ed was published, while recent fundraising rounds have valued the company at $965 billion. The proposal also comes days after Senator Elizabeth Warren and Representative Greg Casar separately called for new AI taxes to fund workforce programmes and universal healthcare, reflecting growing congressional attention to the economic displacement that industry executives and experts warn could follow rapid AI advancement.
Sanders acknowledged the idea draws on existing models, including Norway's $2 trillion sovereign wealth fund derived from oil revenues and Alaska's petroleum-backed fund that has paid annual dividends for roughly 50 years. He also noted that the AI companies themselves have endorsed similar concepts: OpenAI has proposed a public wealth fund giving every citizen a stake in AI-driven growth, while Anthropic CEO Dario Amodei has backed national sovereign wealth funds with stakes in AI, according to Gizmodo. Elon Musk has previously called universal high income via federal checks the best response to AI-driven unemployment.
The legislation is widely considered unlikely to pass, particularly with Democrats in the minority in both houses of Congress. Legal scholars cited by LessWrong have raised questions about potential constitutional challenges on takings clause grounds, given the forced transfer of equity from named shareholders. Sanders indicated that further details on implementation mechanics and spending priorities would be included when the bill is formally unveiled in the coming weeks. Nevertheless, the proposal represents a significant intervention in debates over AI governance—one framed primarily around economic equity and democratic control rather than technical safety concerns, though it would grant the government unprecedented influence over decisions at the organisations developing the most advanced AI systems.