Senator Bernie Moreno introduces S. 5689: Recapturing Excessive Corporate Largesse through Accountability and Incentive Measures Act

We have received text from S. 5689: Recapturing Excessive Corporate Largesse through Accountability and Incentive Measures Act. This bill was received on 2026-10-15, and currently has no cosponsors.

Here is a short summary of the bill:

This bill would limit government subsidies and tax breaks for certain large data centers, especially those used heavily for artificial intelligence work.

What counts as a covered data center

The bill targets data centers or groups of connected data center facilities that meet both of these conditions:

• They have, or are designed to have, at least 100 megawatts of contracted peak power demand.
• At least 50% of their installed computing accelerators are AI accelerator chips used for artificial intelligence training, fine-tuning, or inference.

The bill says federal officials would issue regulations defining “AI accelerator chip” within one year. Those rules could include items like graphics processing units (GPUs), tensor processing units (TPUs), application-specific integrated circuits (ASICs), and similar chips designed mainly for AI tasks.

Federal incentives would be prohibited

A covered data center would not be eligible for federal financial help or tax benefits related to its development or commercial operations. The bill lists many kinds of incentives, including:

• grants
• loans
• loan guarantees
• cooperative agreements
• tax credits
• tax deductions
• tax exclusions
• tax abatements
• other forms of federal financial assistance or tax incentives

State and local incentives would face a federal tax penalty

The bill would also discourage state and local governments from giving incentives to these data centers. If a covered data center receives a prohibited state or local incentive, the data center operator would owe a federal tax equal to 100% of the value of that incentive.

The bill defines prohibited state or local incentives broadly to include things like state or local grants, loans, loan guarantees, tax credits, deductions, exemptions, abatements, and similar financial assistance tied to the data center’s development or operations.

Rulemaking and administration

The Treasury Department, working with the Department of Commerce, would have to issue regulations and guidance within 12 months. Those rules would address:

• how to value prohibited state or local incentives
• how to coordinate the new tax with other federal tax rules to avoid double taxation or double counting
• when an incentive is considered “received,” including incentives paid in installments or based on future performance

The departments could also adjust the thresholds for high-density AI-focused facilities and exclude small sites that are near the cutoff.

Timing

The bill would not take effect immediately. Its provisions would begin the day after final regulations are issued by the Treasury Secretary under the new law.

Other provisions

The bill also states that Congress believes states and local governments should quickly repeal or revise data-center-specific tax incentive programs.

It includes a severability clause, meaning if one part of the law is struck down, the rest would stay in effect.

Relevant Companies

• AMZN — Amazon operates major cloud and data center infrastructure through AWS and could be affected if large AI-focused data center projects lose access to subsidies or face higher tax costs.
• MSFT — Microsoft builds and operates large-scale data center capacity for Azure and AI services, so large AI data center projects could face reduced incentive support.
• GOOGL — Alphabet develops and runs data centers for Google Cloud and AI operations, which could be affected by limits on federal, state, and local incentives.
• META — Meta has invested heavily in large computing infrastructure for AI, and its future data center projects could be less likely to receive public subsidies.
• ORCL — Oracle’s cloud and AI infrastructure expansion could be impacted if qualifying data center developments become ineligible for incentives.
• AMD — If the bill reduces demand for AI-accelerator-heavy data center builds, demand for AMD’s AI chips could be indirectly affected.
• NVDA — NVIDIA supplies many of the AI accelerator chips likely covered by the bill’s definitions, so slower subsidized data center buildouts could indirectly affect demand.

Senator Bernie Moreno Bill Proposals

Here are some bills which have recently been proposed by Senator Bernie Moreno:

• S.5689: RECLAIM Act
• S.5688: Acquired Lands Revenue Modernization Act
• S.5666: NO CHEATS Act
• S.5383: End Gas Station Heroin Act
• S.5239: American Glove Act of 2026
• S.4983: Harry Reid Immigration Stabilization Act

You can track bills proposed by Senator Bernie Moreno on Investivoq's politician page for Moreno.

Senator Bernie Moreno Net Worth

Investivoq estimates that Senator Bernie Moreno is worth $139.2M, as of October 21st, 2026. This is the 13th highest net worth in Congress, per our live estimates.

Moreno has approximately $623.2K invested in publicly traded assets which Investivoq is able to track live.

You can track Senator Bernie Moreno's net worth on Investivoq's politician page for Moreno.

Senator Bernie Moreno Stock Trading

We have data on up to $405.0K of trades from Senator Bernie Moreno, which we parsed from STOCK Act filings. Some of the largest trades include:

• A May 6th, 2026 sale of up to $250K of $ETOR. The stock has fallen 36.8% since then.
• A March 17th, 2025 sale of up to $50K of $BEEP. The stock has fallen 34.2% since then.

You can track Senator Bernie Moreno's stock trading on Investivoq's politician page for Moreno.

2030 Ohio US Senate Election

There has been approximately $481,531,129 of spending in Ohio US Senate elections over the last two years, per our estimates.

Approximately $387,156,502 of this has been from outside spending by PACs and Super PACs. Some of the groups who are spending money in this race include:

• WINSENATE ($74,669,896)
• SLF PAC ($69,659,007)
• DEFEND AMERICAN JOBS ($46,672,296)
• AMERICANS FOR PROSPERITY ACTION, INC. (AFP ACTION) DBA CVA ACTION AND DBA LIBRE ACTION ($29,591,899)
• NO GOING BACK PAC INC. ($27,770,038)

The rating for this race is currently "Toss Up".

You can track this election on our matchup page for the 2030 Ohio US Senate election.

This article is not financial advice. See Investivoq's disclaimers for more information.