Sanders Floats Sovereign Wealth Fund Backed by One-Time 50% Stock Tax on Top AI Firms

U.S. Senator Bernie Sanders (Independent, Vermont) has outlined draft legislation, the American AI Sovereign Wealth Fund Act, that would impose a one-time 50% stock tax on the largest AI companies and use those shares to build a roughly $7 trillion sovereign wealth fund making the public a major shareholder. According to a bill summary obtained exclusively by The Associated Press, the proposal is at the draft stage and is expected to be formally introduced in the coming weeks.