Bernie Sanders wants to send every American a $1,000 check every year — funded by a 50% tax on AI companies. President Trump may be on board

If you believed the most practical uses of AI were silly songs, viral memes, or organizing your shopping list, think bigger.

Senator Bernie Sanders has proposed a plan that would give every American a $1,000 annual payment funded by AI companies.

He’s introduced the American AI Sovereign Wealth Fund Act on June 18—a bill designed to grant the public a direct ownership interest in major U.S. AI firms. This would be achieved through a one-time 50% tax on the stock of these companies, a move his office estimates could generate around $7 trillion. Part of that revenue would fund the yearly payments to citizens.

“We need to ensure AI benefits everyone, not just the wealthiest individuals,” Sanders told NPR, expressing concerns over job displacement, shrinking privacy, and the toll AI may take on young people’s mental health.

Moneywise contacted several leading AI firms, including OpenAI, Google, and Meta, for their views but received no response by publication time.

Interestingly, despite stark political differences, President Trump has made comments suggesting he might support a similar idea. Earlier in June, he told reporters that giving taxpayers a stake in AI firms was “very interesting,” likening it to a partnership with the American public. He added that he planned to meet soon with top tech executives to explore ways of “giving back,” noting that such a move could make Americans “very rich” given the scale of AI profits.

Still, it remains unclear what form this “giving back” might take or whether the meeting will happen.

Sanders’ proposal includes a 50% tax on AI firms earning over $200 million annually, with proceeds going into a sovereign wealth fund. The fund would be managed by the Independent Commission for Democratic AI, composed of seven members appointed by the President and confirmed by the Senate. Each commissioner would bring expertise in areas like labor, national security, privacy, AI systems, or fund management.

The legislation also requires companies to separate their AI operations from other business lines, allowing public ownership specifically in the AI segment. According to the Associated Press, Sanders emphasized that taxpayers wouldn’t lose money under this model, even if the AI market experiences a downturn.

Support for such ideas isn’t limited to Sanders. OpenAI has previously floated the idea of a public wealth fund to give all citizens a share in AI-driven growth—even those not involved in financial markets. The CEO of Anthropic has also suggested funding a universal basic income through taxes on AI firms.

Notably, last year the Trump administration acquired a 10% stake in Intel, a move Sanders endorsed. At the time, he argued that if chipmakers profit from federal grants, the public deserves a fair return on that investment.

However, Sanders has expressed skepticism about aligning with Trump on this specific initiative. In an interview with NPR, he said he hasn’t discussed the plan with the former president and doubts Trump would back it. Speaking with the AP, he criticized what he sees as superficial gestures—like tech leaders offering a small fraction of profits—calling them inadequate compared to the structural change his bill proposes.

Without Republican backing, especially from influential figures like Trump, the bill faces steep hurdles in Congress. And even if passed, the $1,000 annual payout might not go far enough. With AI-related inflation on the horizon—including projected energy cost increases of 29–57% by 2030 due to data center demands, and potential price hikes across goods and services—the financial burden created by AI could outweigh the benefit.

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Original Article Source: https://moneywise.com/news/top-stories/sanders-ai-sovereign-wealth-fund-tax-1000-checks