New House Bill Would Tax AI Tokens to Fund Jobs if Unemployment Rises
fortune · reddit · 2026-09-03
Rep. Sara Jacobs (D-CA), joined by Reps. Greg Casar and Valerie Foushee, introduced a House bill that would impose an excise tax on major AI companies if AI causes mass unemployment, funneling revenue into job creation in housing construction, infrastructure, and child/elder care.
Key points:
- Bifurcated taxation: tax either the value of AI tokens or revenue from AI services and affiliated transactions, whichever is higher
- Rates start at 2% and 3% when unemployment is ≤5%, rising automatically as unemployment climbs
- Jacobs: without action, AI "could create the biggest wealth transfer in history from the bottom to the top"
- The latest congressional attempt to counter AI-driven job displacement
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