Investor Statement on AI in Healthcare

While there are many concerning provisions in the “One Big Beautiful Bill Act” (OBBBA), one stands out for us: the provision imposing a 10-year moratorium on state and local regulations of artificial intelligence (AI). This measure, embedded within the broader budget reconciliation package, aims to centralize AI oversight at the federal level, effectively overriding existing state laws and preventing new ones from being enacted. The bill would nullify over 60 existing state-level AI regulations and halt the progress of hundreds of proposed bills attempting to erect sensible guardrails around the use of AI to address issues such as algorithmic bias, privacy breaches, and automated decision-making. If enacted, the ban would have far-reaching impacts on Americans’ human rights and civil rights, and would likely undermine our citizens’ public health well into the future.