Ro Khanna hits back at tech oligarch primary threat over his support for CA's wealth tax proposal: "We cannot have a nation with extreme concentration of wealth in a few places, but where... healthcare, childcare, housing, education is unaffordable."

Stephen Prager
Dec 28, 2025

US Rep. Ro Khanna defended California’s proposed tax on extreme wealth Saturday after a pair of prominent Silicon Valley venture capitalists threatened to launch a primary bid for his California House seat.

The proposal, which advocates are gathering signatures to place on the ballot in 2026, would impose a one-time 5% tax on those with net worths over $1 billion to recoup about $90 billion in Medicaid funds stripped from the state by this year’s Republican budget law. The roughly 200 billionaires affected would have five years to pay the tax.