This bill creates the "Economy of the Future Commission" in the legislative branch. The Commission will have 10 appointed members plus four nonvoting Deputy Secretaries (Education, Labor, Commerce, Treasury). Congressional leaders make the appointments. The Commission must pick two co-chairs, one Democrat and one Republican, with one co-chair from the House and one from the Senate. It must hold its first meeting within 60 days of enactment.
The Commission's job is to develop consensus legislative recommendations about economic changes caused by the adoption of artificial intelligence (AI). It will study effects on government data and measurement, workforce development programs, K–12 and higher education, career and technical education, social safety net programs, taxation, and Federal standards and metrics for AI skills. The Commission will also examine topics such as open-source AI models, a national AI research investment strategy, public–private research partnerships, manufacturing and supply chain challenges (including robotics), cloud computing labs for research, transportation safety for autonomous vehicles, energy needs and data centers, and AI-enabled robotics.
The Commission may hold hearings, take testimony, issue subpoenas, request information from federal agencies, and accept non-monetary gifts. It is exempt from the Federal Advisory Committee Act and from the Freedom of Information Act for its records and activities.
The Commission must publish an interim report within 7 months with estimates of employment changes by 6-digit NAICS code for 5 and 10 years and federal revenue estimates for those time frames. A final report with legislative recommendations on AI education, reskilling, unemployment insurance, taxation policy, and competitiveness in key industries is due within 13 months. The Secretaries of Treasury, Commerce, Labor, and Education must each submit an assessment of the final report within 60 days. The Commission terminates 120 days after submitting its final report.
If enacted, Congress would create a temporary group to study how AI could change jobs, taxes, education, and industry. The Commission will produce public reports and legislative recommendations that Congress and federal agencies can review. The reports will include employment and revenue estimates, and recommendations on training, education, and tax issues related to AI. Federal agencies are required to cooperate and may provide information, briefings, and detailee staff to the Commission. The Commission’s work is time-limited and ends soon after it files its final report.
The bill appropriates $5,250,000 from the Treasury to carry out the Commission, available until the Commission ends. Members may be paid up to the daily equivalent of Executive Schedule level IV for days worked; staff pay is capped at the equivalent of Executive Schedule level V. Travel expenses follow Federal travel rules. The Commission may enter contracts as provided in appropriations acts. The Commission may accept non-monetary gifts to aid its work but members and staff may not receive gifts for their service.
No publicly available information.
No publicly available information.