Former Sen. Joe Manchin, D-W.Va., has called on former President Donald Trump to leverage executive power to freeze initial public offerings (IPOs) for artificial intelligence companies. Manchin argued during a recent appearance on CNBC that such a move is necessary until Congress can establish legislative safeguards for the rapidly advancing technology.
Manchin framed his appeal as an urgent measure to prevent companies developing sophisticated AI from rushing forward before regulatory frameworks are in place. He suggested that the President of the United States possesses the authority to intervene, stating, "They must be concerned about this thing can take off and think on its own and make its own decisions and override anything of humans and we can't stop it. If that's what they're concerned about, then stop it now when you can."
However, not all share Manchin's proposed solution. Amy Kremer, Republican National Committee member and chairwoman of Human First, expressed opposition to an IPO freeze. She stated in a message to Fox News Digital that interfering with capital markets would not effectively address the underlying safety concerns of AI. Kremer argued that executive power would be better utilized to mandate pre-deployment testing for AI technologies, rather than blocking companies from raising capital.
"I do not support a President using executive authority to interfere with the markets," Kremer said. "An IPO freeze is the kind of top-down mandate that conservatives have long opposed, and it would not even address the actual risk."
The White House has acknowledged the growing debate, referencing several Truth Social posts from Trump concerning AI risks and development. Trump himself has publicly rejected calls for additional AI restrictions, asserting that the U.S. should maintain its technological lead over China. He expressed that existing government powers could be used against companies engaging in misconduct, rather than implementing new regulatory "guardrails."
"The only control or ‘guardrails’ that AI needs is a STRONG AND SMART (High IQ!) PRESIDENT, and the U.S.A. has that, in spades!" Trump stated.
The discussion about slowing AI development gained momentum following statements from leaders in the field, such as Anthropic CEO Dario Amodei, who called for a pause in increasing the capabilities of the most powerful AI models. OpenAI CEO Sam Altman and Elon Musk have also expressed support for slowing down the development of frontier AI.
House Speaker Mike Johnson, R-La., has also rejected the idea of an emergency AI moratorium. He indicated that Congress should collaborate with AI companies to establish appropriate safeguards, rather than halting development abruptly. Kremer also commented on the situation, viewing it as a consequence of Congress's failure to establish clear federal AI regulations earlier.
"Lawmakers have had years to establish clear rules for artificial intelligence, and they have not done it. The responsibility now falls on the executive branch to act where Congress will not," she said.
During the Trump administration, a voluntary federal framework for evaluating advanced AI models was established. An executive order issued in June allowed developers of certain frontier models to provide early access to the federal government for testing and cybersecurity purposes, while emphasizing that the framework did not impose mandatory federal licensing or permitting requirements.