Ro Khanna

Sacramento, CA – Congressional Representative Ro Khanna has come out against the 11th hour utility bailout that Governor Newsom is pushing for in Sacramento.

If you look closer, the number of Democrats who have opposed the bill hail from districts whose campaigns have been flush with tech money. Nearly half of the top 20 career donation totals for Reps. Zoe Lofgren, Anna Eshoo and Ro Khanna come from tech and software companies, according to a financial analysis conducted by The American Prospect. They recently signed a letter urging Newsom to veto the bill. But the most high-profile Democrat to come out against the bill has been Nancy Pelosi. 

In the United States, Sen. Sheldon Whitehouse (D-RI) and Rep. Ro Khanna (D- CA) have introduced the Big Oil Windfall Profits Tax Act. According to Congressional Research analysis, the proposed tax would be 50% of the difference between the current price of Brent crude oil and the average price from 2015 to 2019 (inflation adjusted after 2022). The tax would be imposed on both domestic production and imports limited to firms that produced or imported an average of at least 300,000 barrels per day. The legislation could raise about $35 billion to $40 billion a year. This money could be sent directly to consumers in “relief checks” to24 offset high fuel prices.