US States and Federal Lawmakers Target AI Wealth

State and federal policymakers are challenging the economic relationship with artificial intelligence companies to ensure public wealth is redistributed. Bernie Sanders proposed a one-time tax on tech giants to establish a $7 trillion sovereign wealth fund for citizens, arguing that AI and robotics are the most transformative technologies in human history.

At the state level, Virginia became the first to tax data centers based on electricity consumption. New York enacted a statewide moratorium on data center development, while Nebraska, Arizona, Ohio, and Illinois paused tax incentives. Governor Jim Pillen of Nebraska stated that big tech needs to pay their way, while Governor Kathy Hochul of New York questioned the return on investment when jobs are not associated with the developments.

In Texas, Governor Greg Abbott ordered a statewide audit of data center electricity compliance, asserting that Texans must come first. While industry leaders like Sam Altman and Elon Musk have expressed openness to wealth redistribution, the Data Center Coalition has lobbied against these policies, calling some punitive. President Donald Trump has pressured New York to rescind its moratorium and has mused about public ownership of OpenAI.