New York Pushing for “Robot Tax”

New York City mayor, Bill de Blasio, has supported what is being coined a “robot tax” aimed at curbing job loss to automation. De Blasio’s plan would create an agency called the Federal Automation and Worker Protection Agency (FAWPA) and would regulate how companies automate jobs. This agency would also be responsible for managing a permitting process for companies that want to increase automation that may result in job losses for their workers. Additionally, companies that leverage automation would also have certain tax incentives removed as a punitive measure.

According to an article at The Verge, companies subject to this new regulation would,

“have to pay five years of payroll taxes into a special fund. This fund would be used to create a “new generation of labor-intensive, high employement infrastructure projects and new jobs in areas such as health case and green energy.”