A truly prosperous American economy is one that is diversified, driven by innovation, and works for all people. I believe that to achieve this across the country, we must embrace technology and use it as a vehicle to put people to work. I support advanced American manufacturing as well as a nationwide investment in high-tech apprenticeships and worker training programs.
Empowering a strong middle class will require an economy that benefits everyone, not just those at the top. And this starts by making good, technology-based jobs available and accessible across America. Enrico Moretti, a Berkeley economist, found that for every tech job, five other new jobs are created. This multiplier effect creates important service jobs such as baristas, doctors, lawyers, and dry cleaners, among many others.
I believe that working families are the backbone of this country, and that’s why I have made lifting them up a central part of my agenda. I am introducing a more than $1 trillion expansion of the earned income tax credit (EITC) that would provide a much-needed boost to American families to make up for wages lost to inflation over the past four decades.
I also support paid family leave, training programs for mid-career workers, and increasing the hourly minimum wage to $15. It is vital that we fight for working families, because they are the incubator of the American dream.
Consumer protection laws are Americans’ first lines of defense against unethical companies. These laws hold big corporations accountable and prevent harm to consumers. I support legislation that protects consumers and will oppose any bill to defund the Consumer Financial Protection Bureau.
Data breaches of major credit reporting bureaus demonstrate we need stronger laws to prevent situations like this from happening again. When you apply for a mortgage, credit card, auto loan, or almost anything having to do with credit, a company will check your credit report provided by the three private credit reporting companies.
What you can do to protect yourself
If you have a credit report, it is likely that your personal information was compromised by the Equifax data breach. Please take the time to go through the resources below and take the steps required to keep your identity safe.
- The Equifax Data Breach: What To Do (Federal Trade Commission)
- Identity Theft Protection Guide (Consumer Financial Protection Bureau)
- Top 10 ways to protect yourself in the wake of the Equifax data breach (CFPB)
- For Servicemembers: How to protect your identity (CFPB)
- Equifax isn’t calling (FTC)
What I am doing to protect you
In the wake of this disastrous breach of data and trust, I have signed onto the following bills that will help Americans respond to the Equifax hack now and protect your financial future.
- Credit Information Protection Act – Requires any credit reporting agency that suffers a data breach to allow consumers to initiate a security freeze on their information free of charge.
- Cyber VICTIM Act – Directs the President of the United States to designate a federal official as the Interagency Cyber Victim Response Coordinator.
- Personal Data Notification and Protection Act – Requires that companies and the FTC work together to notify affected individuals within 30 days of the discovery of a breach of sensitive personal information.
Click here to learn more about the bills that I introduced and cosponsored.
Read my op-ed in the Sacramento Bee on making the economy fairer for working families.
Read my op-ed in the Washington Post on how to improve U.S. manufacturing.
More on Economy
Washington, DC – Rep. Ro Khanna, member of the House Budget Committee, issued the following statement on passage of the GOP’s FY 2018 Budget Resolution, which allows Republicans to fast-track tax cuts to millionaires and large corporations:
One of the challenges facing Democrats in the upcoming tax “reform” fight, is that the stakes of tax policy can feel abstract. With Obamacare repeal, progressives had little trouble illustrating the grave consequences of the GOP’s reactionary agenda: Millions of people would lose their insurance; nonaffluent cancer patients would be priced out of chemotherapy; and severely ill babies would hit their “lifetime limits.” By contrast, it’s hard to tell a truly harrowing story about the repeal of the state and local tax deduction.
If one takes the White House’s word for it, tax reform is all about a single goal—helping the middle class, not the rich.
Gary Cohn, the White House’s chief economic adviser, says the president’s tax cut is “purely aimed at middle-class families.” Steve Mnuchin, the Treasury secretary, promised Congress that tax reform wouldn’t benefit the rich. House Speaker Paul Ryan says the plan’s “entire purpose” is to lower middle-class taxes.
When former Vice President Joe Biden announced his opposition to universal basic income a few weeks ago, it seemed like he was drawing a line in the sand that he believed progressives shouldn't cross.
Austin Frerick couldn’t believe the numbers. Last year, while working as an economist at the Office of Tax Analysis in the Obama Treasury Department, Frerick co-wrote a paper on “excess returns,” which he describes as “a fancy way of saying monopoly profits.” And the data was leaping off the charts. “We were seeing returns in places we shouldn’t,” said Frerick, 27. “It’s baby formula, strawberries, crackers. The barriers to entry of making crackers should be next to nothing.”
Washington, DC – Rep. Ro Khanna (CA-17) issued the following statement on the Republican tax framework released today:
South Bay Congressman Ro Khanna from California’s 17th district talked exclusively to KRON4’s James Fletcher on Wednesday.
They discussed a number of topics on the political front ranging from the affordable care act and tax reform to Congress working to resolve the DACAS issue.
Congressman Ro Khanna wants to give a tax credit to the low income. He's holding a town hall meeting at Ohlone College in Fremont on Wednesday evening.
Census data released last week revealed that 2016 was a second straight strong year for median household income growth. Consequently, inflation-adjusted median household income is now at an all-time high, finally surpassing the previous record set in 1999.