Representative Greg Casar introduced H.Res. 1642 on October 29, opposing federal bailouts of insolvent artificial-intelligence companies and financial institutions exposed to the sector. The nonbinding resolution instead calls for assistance to workers, consumers and retirees harmed by an AI-related downturn.

• The proposal opposes special emergency lending, capital injections and debt guarantees intended to rescue insolvent firms.
• It supports ordinary bankruptcy or orderly resolution processes, alongside accountability for executives found to have acted unlawfully or violated fiduciary duties.
• Proposed household support includes unemployment benefits, housing and nutrition assistance, job creation and retirement protections.
• The resolution was referred to the Financial Services, Judiciary, and Education and Workforce committees. It has not been adopted and would not itself change federal law.
• Casar separately introduced H.R. 10538, the Ban Artificial Superintelligence Act, in September. That bill proposes a new Department of Artificial Intelligence and regulation of advanced AI systems.

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Editor’s Note: This is a developing story. This article may be updated as more details become available.