Rising Tech Layoffs Fuel Massive Public Support for Bernie Sanders's US AI Sovereign Wealth Fund Act
As corporate capital expenditures for artificial intelligence reach unprecedented heights, public anxiety over job security has triggered a historic shift in U.S. technology policy debates. On June 18, 2026, Senator Bernie Sanders (I-Vt.) officially introduced the American A.I. Sovereign Wealth Fund Act, a sweeping legislative proposal designed to give the American public a direct ownership stake in the nation's leading AI companies.
The American AI Sovereign Wealth Fund Act
The proposed legislation seeks to create a state-owned investment vehicle funded by a aggressive, one-time tax of 50% of the equity of the largest AI companies in the United States.
- Direct Equity Transfer: Large AI labs and technology giants would be forced to transfer half of their outstanding stock to the public fund.
- Wealth Distribution: The fund would capture a massive share of AI-driven economic gains and distribute them back to broader society, with early proposals suggesting annual dividend payments of up to $1,000 for every U.S. citizen.
- Public Oversight: The bill aims to ensure that the strategic development of frontier AI systems is not decided solely behind closed doors by Silicon Valley executives.
Staggering Public Support Amid Layoff Fears
While heavily criticized by industry groups as a "death sentence for American technology leadership," the proposal has garnered extraordinary public support. A nationwide survey of 1,690 adults conducted by research firm Verasight in June and published in July 2026 revealed that 69% of Americans support forcing AI companies to transfer half of their stock to a public sovereign wealth fund.
This surge in popularity is directly tied to mounting job displacement fears. According to a June 2026 report by Goldman Sachs, Senior Global Economist Joseph Briggs estimates that up to 9% of the U.S. labor force (approximately 15 million workers) could be displaced during a 10-year AI transition period. While corporate profits soar and capex expands, tech layoffs continue to rise, leaving workers highly receptive to aggressive federal wealth-redistribution mechanisms.
"The future of AI and the fate of humanity must not be decided behind closed doors in Silicon Valley by billionaires seeking to maximize their power and profit." — Senator Bernie Sanders Press Release
"Sixty-nine percent of Americans now support 'forcing' AI firms to transfer 50% of their stock to a public sovereign wealth fund, according to a survey by research firm Verasight." — CNBC Report on Public Support for AI Wealth Fund