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Congressman Ro Khanna

Representing the 17th District of California

Economy

Economy and Jobs logoA 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

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.

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

December 4, 2017 In The News

“We have a data problem,” Keith Ellison says. He’s talking about mergers, like yesterday’s proposed purchase of Aetna by CVS, or this summer’s between Amazon and Whole Foods. “We don’t collect and have enough information that will help do the evaluation as to whether or not a given merger that takes place actually yielded the benefits that were promised.” So the Minnesota Democrat and co-chair of the DNC is going to try to fix that — along with the newly formed Congressional Antitrust Caucus.

November 29, 2017 Editorials

The Mercury News

With federal tax reform efforts in full swing, we have a once-in-a-generation opportunity to lift low-wage childless workers out of poverty by expanding the Earned Income Tax Credit (EITC) to 7.5 million young adults across the U.S.

November 25, 2017 In The News

Republicans and major technology firms who support a tax overhaul have touted reforms that they say will bring offshore profits back into the country, boosting U.S. tax revenue and benefiting the economy.

But critics are skeptical of those claims, doubting that both the House and Senate versions of the tax bill give companies like Apple the incentive to bring money into the U.S. over the long term.

One of the central pieces of the Republican plan is a one-time lower rate on foreign income repatriated to the United States. 

November 23, 2017 In The News

For weeks, Facebook has been under intense scrutiny in Washington after revelations about Russian attempts to use the platform to influence the 2016 elections. Now, some lawmakers are talking about turning that scrutiny into action.

November 18, 2017 In The News

With the pace of mergers and acquisitions in the American economy quickening, a new era of trust-busting may be coming.

November 15, 2017 Editorials

TribTalk

This past weekend, our nation united to remember those who gave up their today so we could have our tomorrow—the men and women who put on the uniform and worked together in defense of our freedom and liberty, regardless of their differences. The leadership of our veterans should serve as a model to those of us who serve in Congress.

November 15, 2017 In The News

Silicon Valley has changed the way we get around, the way we communicate, and the very way we live. While Forrester Research estimates technologies like artificial intelligence, machine learning and automation will eliminate 7% of all U.S. jobs by 2025, those numbers belie the advantages those technologies can bring society.

November 12, 2017 In The News

Skooter McCoy was 20 years old when his wife, Michelle, gave birth to their first child, a son named Spencer. It was 1996, and McCoy was living in the tiny town of Cherokee, North Carolina, attending Western Carolina University on a football scholarship. He was the first member of his family to go to college.

November 9, 2017 In The News

Lawmakers put the finishing touches this week on military funding legislation that contains a provision that stands to significantly benefit Amazon.

The amendment, Section 801 of the National Defense Authorization Act (NDAA), would help Amazon establish a tight grip on the lucrative, $53 billion government acquisitions market, experts say.