AI PLAN Act

Summary#

The AI PLAN Act requires federal agencies to make a plan to defend against economic and national security risks when artificial intelligence is used to commit financial crimes, such as fraud or spreading misinformation. The bill says Congress views AI-enabled financial crime as a significant risk.

Key requirements in the bill:

• Within 180 days of enactment, and then every year, the Secretary of the Treasury, the Secretary of Homeland Security, and the Secretary of Commerce must jointly send a report to Congress. They must consult with other officials including the U.S. Trade Representative, the Attorney General, the Chair of the Federal Reserve, the NIST Director, the Under Secretary of Commerce for Industry and Security, and the SEC Chair.
• Each report must describe interagency policies and procedures to defend U.S. markets, people, businesses, and supply chains from AI-enabled financial crimes.
• Reports must list readily available tools (hardware, software, technologies) that can be used immediately, and an itemized list of additional resources, people, technologies, and budget estimates that agencies would need.
• Reports must consider risks such as deepfakes, voice cloning, foreign election interference, synthetic identities, false flags or signals that disrupt markets, and overall digital fraud.
• Within 90 days after each report, the three Secretaries must jointly give Congress recommendations. Those recommendations must include legislative suggestions and best practices for businesses and government on risk mitigation and incident response.

What it means for you#

This bill directs federal agencies to study and plan responses to AI-enabled financial crimes and to give Congress regular reports and recommendations. It does not itself change rules or create new requirements for private individuals or businesses. The reports and recommendations could be used later to create new laws, rules, or guidance.

Expenses#

The bill requires reports to include itemized budgetary estimates for needed resources. The text does not itself authorize spending or provide specific cost amounts. No publicly available information on actual funding or enacted appropriations is included in the bill text.

Proponents' View#

The bill states as a "sense of Congress" that the development and use of artificial intelligence in the commission of financial crimes poses a significant risk to national and economic security. The measure directs coordinated interagency planning, lists specific technical threats to consider, and seeks recommendations and best practices to address those risks.

Opponents' View#

No publicly available information.