Ro Khanna tears into Gavin Newsom over billionaires tax

Rep.Ro Khanna has accused Gavin Newsom of backing away from California’s proposed billionaire wealth tax because he fears retaliation from wealthy political donors.The outspoken Silicon Valley congressman, who has built a national reputation as one of the Democratic’s leading lefties, said many elected officials have been reluctant to publicly embrace Prop 40, a measure that would impose a one-time 5% tax on the wealth of California billionaires, POLITICO reported.“They saw what happened to me,” Khanna told the outlet.

“They’re afraid to offend these billionaires.”Khanna claimed venture capitalist and prominent Democratic donor Ron Conway privately pressured him to back away from supporting the proposal after the congressman posted on social media in December ridiculing reports that some billionaires were considering leaving California.“Ron Conway said I’d end my political career if I did this,” Khanna told POLITICO.“He said, ‘Oh, these people are not going to forgive you; they’ll take you out.’“He said you should apologize for coming out for this tax.

I said, ‘Ron, I’m not going to apologize.’ He said, ‘These people are ruthless,'” Khanna added.Khanna suggested the fear of wealthy donors has helped keep many prominent Democrats on the sidelines, even as support for the proposal has recently gained momentum.The California Democratic Party endorsed the measure over the weekend, while the California Federation of Labor Unions voted Tuesday to support Proposition 40, becoming the state’s largest labor organization to do so.Still, Khanna has struggled to rally many of California’s top Democratic leaders behind the initiative.Among its highest-profile critics is Newsom, a potential rival should both men seek the Democratic presidential nomination in 2028.Rather than backing California’s proposal, the governor has argued a national wealth tax would be more effective.“I don’t know why he’s taking the side of the billi...