Khanna calls for nationwide fraud investigation after wealth tax proposal caused firestorm | A We…

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Khanna calls for nationwide fraud investigation after wealth tax proposal caused firestorm

California Democrat Rep. Ro Khanna says he has a solution for Silicon Valley elites angered by his embrace of a wealth tax: Tackling fraud.

Over the weekend, Khanna came under fire from some donors and allies in the tech industry after he endorsed a wealth tax. Labor groups in California are trying to add a proposal for a statewide tax on billionaires to the November ballot, prompting some wealthy Californians to warn they will leave the state if it passes and support a primary challenger to Khanna in next year's elections.

In an interview with CNBC, Khanna, who represents Silicon Valley, said he's launching a bipartisan effort from his post on the House Oversight and Government Reform Committee to root out state-level fraud to ensure the new tax windfall doesn't go to waste. The effort, he said, will make sure that funds go toward health care and other essential services.

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