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Ro Khanna Defends Controversial 5% Billionaire Tax Proposal

12/28/2025

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Summary

Story summary

U.S. Representative Ro Khanna (D-CA) defended a 5% tax on billionaires to recoup $90 billion in Medicaid funds.
Khanna says the tax aligns with his progressive values and wealth-inequality goals.
The proposal requires signatures to qualify for the 2026 ballot.
The plan has faced backlash from wealthy residents and Governor Gavin Newsom.
Critics call for a primary challenge to Khanna, including donors who view his stance as alienating moderates.

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Story summary

U.S. Representative Ro Khanna (D-CA) defended a 5% tax on billionaires to recoup $90 billion in Medicaid funds.
Khanna says the tax aligns with his progressive values and wealth-inequality goals.
The proposal requires signatures to qualify for the 2026 ballot.
The plan has faced backlash from wealthy residents and Governor Gavin Newsom.
Critics call for a primary challenge to Khanna, including donors who view his stance as alienating moderates.