Ro Khanna urges California voters to back proposed billionaire tax

Ekonominin Sesi - International (English) · Oct 19, 2026 · 1m

In an editorial, Representative Ro Khanna makes the case that California voters should back Proposition 40, a proposed one-time five percent levy on the state’s approximately 250 billionaires. Khanna says the initiative would generate around $100 billion, with 90 percent going to healthcare, and help keep three million Californians from losing coverage. He also says the tax could help offset more than $30 billion in annual Medi-Cal cuts under President Trump. Khanna supports the proposal and says he and Senator Bernie Sanders stand with the healthcare workers behind it; Governor Gavin Newsom…