US Reps Lead Democratic Resolution Opposing A.I. Bubble Bailout for Big Tech
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Washington, D.C. — Today, Congressional Progressive Caucus (CPC) Chair Rep. Greg Casar (TX-35) and House Financial Services Committee Ranking Member Rep. Maxine Waters (CA-43) co-led the introduction of a resolution warning of the economic risks posed by an artificial-intelligence-related asset bubble, opposing a bailout of corporations or their business executives impacted by the collapse of an A.I. bubble, and affirming their support for aggressive federal action to protect workers, retirees, and low-income communities who will be harmed by an economic downturn.
华盛顿特区——今日,国会进步核心小组(CPC)主席、众议员格雷格·卡萨尔(德克萨斯州第35选区)与众议院金融服务委员会资深成员、众议员玛克辛·沃特斯(加利福尼亚州第43选区)共同牵头提出了一项决议。该决议旨在警示人工智能相关资产泡沫所带来的经济风险,反对在人工智能泡沫破裂时对受影响的企业或其高管进行救助,并重申他们支持采取积极的联邦行动,以保护将在经济衰退中受损的劳动者、退休人员及低收入群体。
They were joined by Representatives Danny Davis (IL-07), Chris Deluzio (PA-17), Valerie P. Foushee (NC-04), Jesús “Chuy” García (IL-04), Pramila Jayapal (WA-07), Analilia Mejia (NJ-11), Delia Ramirez (IL-03), André Carson (IN-07), Jan Schakowsky (IL-09), Brad Sherman (CA-32), and Rashida Tlaib (MI-12).
参与联署的还有众议员丹尼·戴维斯(伊利诺伊州第7选区)、克里斯·德卢齐奥(宾夕法尼亚州第17选区)、瓦莱丽·P·福希(北卡罗来纳州第4选区)、赫苏斯·“楚伊”·加西亚(伊利诺伊州第4选区)、普拉米拉·贾亚帕尔(华盛顿州第7选区)、安娜莉亚·梅希亚(新泽西州第11选区)、迪莉娅·拉米雷斯(伊利诺伊州第3选区)、安德烈·卡森(印第安纳州第7选区)、简·夏科夫斯基(伊利诺伊州第9选区)、布拉德·谢尔曼(加利福尼亚州第32选区)以及拉希达·特莱布(密歇根州第12选区)。
“Big Tech billionaires are making increasingly reckless bets on A.I. They got richer off Trump’s deregulation and Republican tax breaks. Now they expect taxpayers to bail them out if those bets go bad. We won’t let them,” said CPC Chair Casar. “A.I. companies that fail should go bankrupt, and executives who commit fraud should be held accountable. Federal help should go to workers and retirees.”
“大型科技公司的亿万富翁们正在人工智能领域进行越来越鲁莽的押注。他们通过特朗普的放松管制和共和党的税收减免变得更加富有。现在,如果这些押注失败,他们竟指望纳税人来救助他们。我们绝不允许这种情况发生,”CPC主席卡萨尔表示,“失败的人工智能公司应该破产,而实施欺诈的高管必须承担责任。联邦援助应当提供给劳动者和退休人员。”
“Big tech and Wall Street are taking enormous risks with billions in borrowed money to fuel the AI boom, despite growing warning signs of a dangerous bubble and if it all comes crashing down they should not expect taxpayers to rescue them,” said Ranking Member Waters. “We saw what happened in 2008 when reckless Wall Street practices brought our economy to its knees. The banks got bailed out while millions of hardworking Americans lost their jobs, homes, and retirement savings. We cannot let history repeat itself. The American people should never again be forced to foot the bill for billionaires’ reckless bets.”
“尽管危险泡沫的警告信号日益明显,大型科技公司和华尔街仍利用数十亿借来的资金承担巨大风险,以助推人工智能热潮。如果这一切最终崩盘,他们不应指望纳税人来拯救他们,”资深成员沃特斯说道,“我们目睹了2008年发生的一切,当时华尔街的鲁莽行为使我们的经济陷入瘫痪。银行得到了救助,而数百万勤劳的美国人却失去了工作、住房和退休储蓄。我们不能让历史重演。美国人民绝不应再被迫为亿万富翁的鲁莽押注买单。”
In the resolution, the Democratic lawmakers note that “artificial intelligence-related firms hold trillions of dollars in debt, much of which is raised in opaque and unregulated private credit markets,” and “the price-to-earnings ratio of the stock market is currently almost as high as it was at the peak of the 1990s tech bubble.”
在该决议中,民主党议员指出,“人工智能相关企业持有数万亿美元的债务,其中大部分是在不透明且不受监管的私人信贷市场中筹集的”,并且“目前股市的市盈率几乎与1990年代科技泡沫顶峰时期一样高”。
The Democratic legislators also point out that “federal regulators have avoided applying robust scrutiny and oversight regarding enormously complicated debt and equity schemes used by artificial intelligence firms” and highlight the Trump White House’s deregulatory focus and conflicts of interest related to A.I.
民主党立法者还指出,“联邦监管机构避免对人工智能公司所使用的极其复杂的债务和股权方案进行严格的审查和监督”,并强调了特朗普白宫在放松管制方面的侧重点以及与人工智能相关的利益冲突。
The resolution’s cosponsors commit to avoiding a federal response similar to what occurred during the financial crisis of 2008, where the financial sector received trillions of dollars in liquidity without accountability for senior executives involved in illegal and fraudulent behaviors. Meanwhile, 10 million homeowners lost their houses and tens of millions of workers went years without adequate employment while too-big-to-fail banks enjoyed a massive bailout.
该决议的共同提案人承诺,将避免采取类似于2008年金融危机期间的联邦应对措施。当时,金融部门获得了数万亿美元的流动性支持,而参与非法和欺诈行为的高管却未被追究责任。与此同时,1000万房主失去了住房,数千万劳动者多年来无法获得充分就业,而那些“大到不能倒”的银行却享受了巨额救助。
The resolution urges the Federal Government, including Congress and key Federal agencies to oppose: Any measure to rescue insolvent artificial intelligence-related firms or to shield their senior executives from accountability for reckless conduct; Special assistance like emergency lending or direct capital infusions to prop up insolvent A.I. companies’ operations or prevent their orderly resolutions through ordinary bankruptcy processes; “Golden parachutes” for corporate executives involved in risky or illegal behaviors that lead to their firms’ insolvency, instead requiring them to be held fully accountable under civil and criminal law and be obligated to return ill-gotten gains like mansions, vacation homes, private planes and yachts, and other assets.
该决议敦促联邦政府(包括国会及关键联邦机构)反对:任何旨在救助资不抵债的人工智能相关企业的措施,或保护其高管免受鲁莽行为追责的措施;反对提供紧急贷款或直接注资等特殊援助,以支撑资不抵债的人工智能公司运营,或阻碍其通过常规破产程序进行有序清算;反对为导致公司破产的、涉及风险或非法行为的企业高管提供“金色降落伞”,并要求他们根据民法和刑法承担全部责任,且必须退还豪宅、度假屋、私人飞机、游艇及其他资产等不义之财。
The resolution also calls on the Federal Government to support: Aggressive, direct federal action to support ordinary Americans through federal spending to create jobs, protect state and local government services, and robust unemployment insurance, nutrition support, and housing assistance; The protection of pension and retirement fund holders who may face devastating losses in the event of a collapse of an A.I. bubble; Far-reaching reforms to prevent future speculative bubbles, including additional transparency and accountability requirements; Automatic economic stabilizers—investments in people that start to flow immediately in the event of an economic downturn—that support workers and consumers when financial crises, asset bubbles and other harms create downturns and recessions.
该决议还呼吁联邦政府支持:采取积极、直接的联邦行动,通过联邦支出创造就业机会,保护州和地方政府服务,并提供强有力的失业保险、营养支持和住房援助,以支持普通美国民众;保护养老金和退休基金持有者,防止他们在人工智能泡沫破裂时面临毁灭性损失;进行深远的改革以防止未来的投机泡沫,包括增加透明度和问责要求;建立自动经济稳定器——即在经济衰退时立即生效的对民投资——在金融危机、资产泡沫及其他损害导致经济下滑和衰退时,为劳动者和消费者提供支持。
The resolution was endorsed by American Federation of Teachers, American Economic Liberties Project, Americans for Financial Reform, the Center for Responsible Lending, Demand Progress Action, Future of Life Institute, Guardrails Action, Indivisible, Interfaith Centre on Corporate Responsibility, Investor Alliance for Human Rights, Jobs With Justice, P Street, and Social Security Works.
该决议得到了美国教师联合会、美国经济自由项目、美国金融改革组织、负责任贷款中心、需求进步行动组织、生命未来研究所、护栏行动组织、Indivisible组织、跨宗教企业责任中心、投资者人权联盟、正义工作组织、P Street以及社会保障工作组织的支持。
“Americans are already paying for the AI build-out through higher power bills and a stock market propped up by a handful of companies,” said Morgan Harper, Director of Policy & Advocacy for American Economic Liberties Project. They should not pay a second time with a bailout. When Wall Street’s bets went bad during the financial crisis, the banks got rescued and ordinary people got foreclosure notices. Congressional members are right to reject AI bailouts in advance, and commit to saving real help for those who will be left holding the bag—the American people.”
“美国人已经通过更高的电费账单以及由少数几家公司支撑的股市,为人工智能的建设付出了代价,”美国经济自由项目政策与倡导主任摩根·哈珀表示,“他们不应该再通过救助计划支付第二次代价。当华尔街在金融危机期间押注失败时,银行得到了拯救,而普通民众却收到了止赎通知。国会议员们预先拒绝人工智能救助是正确的,他们承诺将真正的援助留给那些最终承担后果的人——即美国人民。”
“Tech billionaires and their Wall Street backers are using dangerous tactics reminiscent of the 2008 financial crisis to make trillion dollar bets on AI—and they are putting working people’s money at risk,” said Maya Jenkins, a senior policy analyst at Americans for Financial Reform. “This resolution charts a critically important path for defending people’s economic security from the bubble’s blast radius, opposing billionaire bailouts, and holding corpor
“科技亿万富翁及其华尔街支持者正在使用令人想起2008年金融危机的危险策略,在人工智能上进行万亿美元的押注——他们正在将劳动人民的资金置于风险之中,”美国金融改革组织高级政策分析师玛雅·詹金斯表示,“这项决议为保护人们的经济安全免受泡沫冲击波的影响、反对亿万富翁救助以及追究企业责任,规划了一条至关重要的道路。”