Ro Khanna’s Wealth Tax Support Fuels Primary Challenge in Silicon Valley
Source: Bloomberg Politics · Bias: Center
Summary
Representative Ro Khanna is facing backlash from billionaires for supporting a California wealth tax. Now a tech entrepreneur wants to turn that anger into a June primary challenge for Khanna’s Silicon Valley seat.
Ro Khanna’s Wealth Tax Support Fuels Primary Challenge in Silicon Valley
Center
Representative Ro Khanna is facing backlash from billionaires for supporting a California wealth tax. Now a tech entrepreneur wants to turn that anger into a June primary challenge for Khanna’s Silicon Valley seat.
Major American corporations that benefited from tax cuts enacted last year by President Donald Trump and congressional Republicans are donating to the campaigns of GOP lawmakers who made the windfall possible.A report published Friday by Unrig Our Economy spotlights seven House Republicans who voted for the sprawling and unpopular GOP budget package, which extended tax breaks for corporations and wealthy Americans while inflicting unprecedented cuts on Medicaid and federal nutrition assistance—with disastrous consequences for millions of low-income families across the country.Rep. Mariannette Miller-Meeks (R-Iowa), one of the lawmakers featured in the new report, has received campaign donations from corporate PACs representing 3M, Amazon, Walmart, AT&T, and other companies that collectively received billions of dollars in tax breaks from the Republican law, which restored a provision allowing businesses to immediately write off new investments.Amazon saw its US income taxes fall by more than half last year due to the GOP law, even as the company’s profits grew. Unrig Our Economy noted that Amazon, whose PAC donated thousands to the Republicans spotlighted in the new report, has an effective federal tax rate of 1.37% following enactment of the budget law.Miller-Meeks, who has received at least $57,000 in donations from the PACs of companies that benefited from the 2025 law, issued a statement Thursday bragging about supporting “the largest tax cuts in American history,” not mentioning that the benefits will disproportionately flow to profitable corporations and the richest people in the country.“Thanks to the Republican tax law, corporations are receiving tax breaks, House Republicans are getting campaign cash, and working families are getting stuck with the bill,” the report states.Another Republican lawmaker featured in the report, Rob Bresnahan of Pennsylvania, received $2,500 in campaign donations from the PAC of FirstEnergy, which reaped $500 million in depreciation deductions thanks to the GOP tax law.“Bresnahan voted to give FirstEnergy hundreds of millions in tax breaks even after the company raised utility prices for his constituents,” Unrig Our Economy’s report observes.The report also points out that Bresnahan “owned stock in every single one” of the companies who contributed PAC money to his campaign following passage of the Republican budget package last summer.“This comes after Bresnahan has already faced scrutiny for dumping stock in Medicaid providers and selling off bonds in Pennsylvania hospitals before voting to slash Medicaid and put rural hospitals at risk,” the report notes.Leor Tal, Unrig Our Economy’s campaign director, said in a statement that “one year ago, House Republicans ripped away healthcare and food assistance from millions of Americans, so that corporations could get massive tax breaks.”“Now, many of those companies are dishing out PAC money to the Republicans listed in this report,” said Tal. “Republicans in Congress sold out many of their own constituents to help corporations get even richer. It’s time that House Republicans step up, do the right thing, and start fighting for working Americans—not giant corporations.”
New York City Mayor Zohran Mamdani (D) took a thinly veiled jab at Tesla founder and CEO Elon Musk on Friday during a speech commemorating the 250th anniversary of American independence, saying the trillionaire’s immense wealth epitomizes the “contradictions” that exist in the country. “As we mark 250 years, what do we see?” Mamdani asked…
The fight for Michigan’s open Senate seat is becoming an early proxy war over the Democratic Party’s future, with progressives and establishment leaders lining up behind rival candidates in one of the country’s most important battleground states. The contest to replace retiring Sen. Gary Peters (D-MI) has crystallized into a three-way Democratic primary, though much […]
As Americans prepare to celebrate the country’s 250th birthday this holiday weekend, organizers of Freedom 250 events in Washington are scrambling to deal with the extreme heat. Some 200,000 people have attended the Great American State Fair and FIFA Fan Fest so far, according to a Freedom 250 spokesperson, and even more are expected to…
President Trump says it would be "ridiculous" for the United States to continue its "one sided" relationship with NATO. His remarks came less than a week before a NATO summit in Turkey.
NATO members are struggling to coalesce around a joint statement for their summit next week due to disagreements over projects to extend the alliance’s fuel pipelines to eastern Europe and the duration of financial support for Ukraine.
An ex-GOP operative flagged how Trump is killing what he once touted as his "best" deal at the expense of his supporters.During an episode of The Bulwark Podcast, Tim Miller described Trump's plans concerning the United States-Mexico-Canada Agreement, which Trump negotiated and boasted about during his first term."The Trump administration decided not to renew the USMCA," Miller noted. "Which is pretty interesting because Donald Trump said that was the best agreement we've ever made, the best trade deal of all time."While "it's strange that they would not renew the best trade deal of all time," Miller explained, "They're now going to do yearly reviews where Trump shakes down the leaders of Mexico and Canada...not great."According to Miller, Trump will ditch the USMCA in favor of an arrangement where the U.S. conducts annual reviews of trade with Mexico and Canada. He predicted that the new arrangement would likely hurt American farmers, who supported Trump."The farmers, it's one hit after another for the farmers, who, it seems like, every Trump policy is like it's almost like an elaborate plot to see how much he can p— off the farmers and still run up the numbers in rural America," Miller said.Miller's guest on the show, New Yorker writer Susan Glasser, agreed."As far as the farmers go, Donald Trump loves to provide evidence that his ride or die supporters will be there no matter how much he humiliates them," Glasser said. "No matter how much he backs away from policies that would support him, no matter how much he fails to deliver the things that he said he would deliver. That to Trump, that's the ultimate sort of political own, and he loves that move."
