Sen. Elizabeth Warren (D-Mass.) on Thursday reaffirmed her calls for a tax on AI to fund public education and healthcare amid Silicon Valley’s artificial intelligence push.
Trillions In Wealth
In a post on the social media platform X, Warren shared how “AI could generate trillions in wealth in the coming years.” She then outlined two choices. The first one was letting billionaires like Elon Musk and a handful of others “become richer and richer” through AI. “OR we can tax AI and invest in schools, healthcare, and workers,” she said.
Elizabeth Warren Warns AI Risk To Workers
Warren had earlier called for taxation on automation and artificial intelligence, warning against rapid adoption that risks workers getting displaced and tech billionaires becoming richer.
Warren has also advocated for policymakers to act before the AI push results in thousands of people being laid off by companies, warning of significant disruptions to the workforce.
Bernie Sanders’ AI Public Ownership Bid
Meanwhile, Sen. Bernie Sanders (I-VT) introduced a bill proposing that the American public acquire a 50% ownership stake in AI companies like xAI, OpenAI and Anthropic.
The proposal is called the American AI Sovereign Wealth Fund Act. The proposal outlined a federal fund filled with stock procured through a one-time 50% equity transfer from AI companies.
Tesla Terafab Promises Increased Tax Revenue
Meanwhile, Tesla Inc. (NASDAQ:TSLA) and SpaceX‘s chip fabrication facility, the Terafab, in Grimes County, Texas, would become the county’s largest source of revenue.
Musk touted that SpaceX would be paying an annual amount to Grimes County, which would drive tax revenue up by 25%. He also shared how the taxes paid by SpaceX’s employees and contractors, combined with the annual amount, would drive up revenue.
Musk’s comments came as Terafab sought the County to waive property taxes, saying that Terafab wouldn’t be able to remain competitive otherwise.
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