A bill to amend the Internal Revenue Code of 1986 to impose an excise tax on systemically important AI activity, and for other purposes.

On June 18, 2026, Senator Bernie Sanders (I-VT) introduced S4825, a bill to amend the Internal Revenue Code to impose an excise tax on systemically important AI activity. The bill was read twice and referred to the Senate Committee on Finance. This is the earliest stage of the legislative process — referral to committee — meaning no hearings, markups, or text have been released. The bill's sponsor is a junior member of the minority caucus, which historically reduces the likelihood of committee advancement without broader bipartisan or chair support. The bill does not authorize any funding; it proposes a new tax, which is a revenue-raising measure. No details on the tax rate, base, or exempted activities are available. Without specific language, no companies or sectors can be evaluated for financial impact. The legislative path requires committee consideration, potential markup, floor debate, and passage in both chambers — unlikely in this Congress given the stage and sponsor profile. There is no market data provided for any ticker, and no real financial impact can be estimated. The only structural observation is that any future excise tax on AI activity would affect AI developers and large technology companies using AI at scale, but until explicit text emerges, no causal chain can be constructed.