Executive Edge: Ro Khanna calls for nationwide fraud investigation following wealth tax firestorm
2025-12-31_12-14 • 1m 14s
Contessa Brewer (Correspondent)
00:00.000
California
Democratic
Congressman
Rokem
calling
for
a
nationwide
fraud
investigation
after
his
wealth
tax
proposal
whipped
up
anger
and
predictions
that
billionaires
would
flee
the
Golden
State.
In
an
interview
with
CNBC,
Khana
said
that
he
is
launching
a
bipartisan
effort
from
Contessa Brewer (Correspondent)
00:17.160
his
post
on
the
House
oversight
committee
to
root
out
state-level
fraud
so
that
any
tax
windfall
wouldn't
be
wasted.
Khana's
pitch
involves
a
one-time
tax
on
billionaires
to
help
shore
up
California's
healthcare
financing
Many
who
have
criticized
Kona's
idea
cited
instances
of
Contessa Brewer (Correspondent)
00:34.120
alleged
fraud
in
California
and
Minnesota
as
reasons
that
the
tax
not
only
won't
work,
but
shouldn't
happen.
Joe Kernen (Co-anchor of Squawk Box)
00:42.920
Drugmakers
plan
to
raise
US
prices
on
at
least
350
medications
in
2026.
This
is
from
data
from
the
healthcare
research
firm
Three
Access
Advisors
and
comes
despite
calls
from
the
White
House
for
those
companies
to
cut
prices.
The
price
hikes
average
around
4%
about
the
same
as
a
Joe Kernen (Co-anchor of Squawk Box)
01:00.520
year
ago.
Uh,
when
drug
makers
unveiled
plans
to
raise
prices
on
more
than
250
drugs.
The
Trump
administration
did
recently
strike
some
price
cutting
deals
with
14
drug
companies
for
Medicaid
recipients
and
consumers
uh
who
pay
cash.
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