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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig Tech talking China: Top execs meeting with House lawmakers tomorrowHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Rep. Ro Khanna, D-Calif., joins the show to discuss tech executives meeting with U.S. lawmakers to discuss their relationship with China.
A group of lawmakers will travel to California to meet with tech and media executives, including Apple CEO Tim Cook and Disney CEO Bob Iger, to discuss China-related topics, CNBC has confirmed. Around a dozen lawmakers representing both parties on the House Select Committee on the Chinese Communist Party are set to make the three-day trip, led by Chair Mike Gallagher, R-Wisc., a spokesperson for the committee told CNBC. Just last week, Cook, whose company relies on China's massive workforce for phone production, met with China's minister of commerce about supply chain issues. Gallagher has previously said he wants Iger and Big Tech executives to testify before the panel. Companies named in this report either did not immediately respond or did not provide a comment.
Ro Khanna on Sunday announced that he's backing Rep. Barbara Lee in the 2024 California Senate race. The progressive congressman is endorsing Lee over fellow Democratic Reps. Katie Porter and Adam Schiff. Khanna during his announcement said that Lee would bring a "unique voice" to the upper chamber. Rep. Barbara Lee of California. Scott Applewhite, File"Barbara Lee is a unique voice," Khanna said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Ro Khanna on SVB collapse: I put most of the blame on the bank managementRep. Ro Khanna (D-Calif.) joins 'Squawk Box' to discuss where Khanna places the blame on the collapse of SVB, the tech industry's tone over the last week, and why Khanna believes the country needed to guarantee the deposits.
Progressives are blaming the collapse of Silicon Valley Bank on a 2018 rollback of banking regulations. The bill was championed by Republicans — but it couldn't have passed without Democratic support. These 13 current members of the Senate Democratic caucus helped Republicans pass the law. Silicon Valley Bank reported $212 billion in assets in the final months of 2022, placing it just under the higher threshold. Here are the 13 members of the Senate Democratic caucus that supported the bill:
Silicon Valley Bank CEO Greg Becker sold nearly $30 million of stock over the past two years, raising new questions over insider stock sales. Becker sold $3.6 million worth of shares on Feb. 27, just days before the bank disclosed a large loss that triggered its stock slide and collapse. The sale capped two years of stock sales by Becker that totaled $29.5 million, according to data from Smart Insider. Altogether, SVB executives and directors cashed out of $84 million worth of stock over the past two years, according to Smart Insider. The sales have sparked criticism of SVB's management — as well as the broader phenomenon of insider stock sales before major declines.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Ro Khanna on the deficit: Productive deficit spending is actually goodRep. Ro Khanna (D-Calif.) joins Brian Sullivan and 'Last Call' to discuss deficit spending as President Biden prepares to deliver his budget to Congress tomorrow.
Institutional investors may control 40% of U.S. single-family rental homes by 2030, according to MetLife Investment Management. And a group of Washington, D.C., lawmakers believe that Wall Street needs to back away from the market. Khanna is the lead author of the Stop Wall Street Landlords Act of 2022. "What's outrageous is your tax dollars are helping Wall Street buy up single-family homes," he said in an interview with CNBC. Since the early 2010s, Tricon Residential, Progress Residential, American Homes 4 Rent, Invitation Homes have each bought thousands of homes.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Ro Khanna: Hard to believe China's spy balloon just 'innocent balloons'Rep. Ro Khanna (D-Calif.) joins 'Squawk Box' to discuss why China decided to send a spy balloon over the United States, how often this has happened in the past, and more.
The House just used an open process for amending legislation for the first time in 7 years. But in interviews with Insider this week, Democrats also expressed skepticism that the use of open rules would be more than a one-time thing; the open rules that the chamber utilized last week were provided for as part of the House GOP's rules package. "We'll see how long this lasts," said Democratic Rep. Zoe Lofgren of California, a long-time ally of Pelosi. Spanberger herself had fun with open amendments, submitting one that would exclude drilling from areas offshore because the GOP majority was "looking to destroy Virginia's beautiful coastline." said Democratic Rep. Ro Khanna of California, who said he generally favors an open process.
On Dec. 30, leaders of the House and Senate Armed Services committees announced the selection of former Google CEO Eric Schmidt and 11 others to serve on a new federal commission on biotechnology. The appointment, however, doesn't require commission members to divest their own personal biotech investments — even as they help shape U.S. policy overseeing the industry. The person didn't say when Schmidt made the decision to donate profits, adding that he hasn't yet named any recipient charities. The new federal commission will likely have a say in steering such investments over the two years of its lifetime. Schmidt's biotech investments are relatively recent.
Rep. Katie Porter of California on Tuesday officially announced a 2024 Senate bid. Sen. Feinstein is up for reelection in 2024, but hasn't yet announced whether she'll run for another term. "In times like these, California needs a warrior in Washington," she said in her official campaign announcement on Tuesday. In entering the race, Porter is staking out a lane as an lawmaker who would usher in a different sort of governance. In November, Porter won a tough reelection race, edging out former California assemblyman Scott Baugh by four points (52%-48%).
House Republicans voted on Monday to hobble the Office of Congressional Ethics. George Santos, facing multiple investigations and ethics complaints, called the changes "fantastic." The Office of Congressional Ethics, first established in 2008, is a quasi-independent body tasked with investigating allegations of misconduct against members of Congress. It then makes a determination as to whether those allegations are worth investigating further, at which point it makes a referral to the House Ethics Committee, which is evenly divided between Republicans and Democrats. In 2017, House Republicans voted in conference to subsume the office under the House Ethics Committee, effectively neutering it.
WASHINGTON — Many House Republicans are furious with a band of far-right rebels who they say are holding the party hostage by repeatedly rejecting its nominee for speaker. The unwillingness of most House Republicans to cut a deal with Democrats to pick a speaker weakens their leverage in the showdown with a group of 20 right-wing lawmakers who want to defeat Rep. Kevin McCarthy, R-Calif., who is backed by 90% of the GOP caucus. As Bacon and other McCarthy allies dangle the possibility of a bipartisan speaker to secure the votes to make him speaker, the anti-McCarthy faction is calling their bluff. Rep. Bob Good, R-Va., who has voted against McCarthy all six times, said he doesn’t believe any Republicans would go around the House Freedom Caucus and team up with Democrats to pick a speaker. Democrats open door to consensus speakerSome Democrats say they’re open to negotiating a consensus speaker.
The lawmakers are co-sponsors of the National Development Strategy and Coordination Act. That's why we've joined forces to jumpstart a national project to restore American manufacturing leadership. This committee would be charged with developing a National Development Strategy, recommending investments to improve national security, strengthen domestic manufacturing, create good-paying jobs and develop new technologies. Second, our proposal — the National Development Strategy and Coordination Act — would give this committee the authority to direct the Department of Treasury's Federal Financing Bank to achieve its goals. This would bring overdue strategic coordination to our federal loan system and inject much-needed long-term capital into critical industries.
"I think the trajectory of technology is still a force for good," he told Politico. Despite his concerns about Twitter, Khanna remains optimistic about the potential for technology companies to benefit society. "I think we need technology to solve climate," Khanna told Politico. We need technology to democratize voice in America. The office of Rep. Khanna did not immediately respond to Insider's request for comment.
WASHINGTON — Democratic members of Congress had harsh words for Elon Musk on Thursday night after Twitter suddenly suspended a number of high-profile journalists who have been covering the company and Musk, its billionaire CEO. In November, shortly after he took over Twitter, Musk tweeted that he would not ban the account. Musk tweeted Thursday night. "Ro Khanna is great," Musk tweeted in response to one of some of the Twitter files. Rep. Eric Swalwell, D-Calif., tweeted: "Twitter can suspend whoever it wants.
The companies mentioned in the report did not return requests for comment. Internal documents also showed oil executives privately admitting that divesting, or moving around the accountability of emissions, will not have a meaningful impact on overall emissions levels. The report comes after Democrats lost control of the House in the 2022 midterm elections, and with it the ability to direct House Oversight investigations. Khanna said the millions of documents acquired by the committee will be handed over to those with more resources who can act on the information. “You can’t expect a House subcommittee to go up against oil companies that have been misleading American public for 40 years and all of a sudden have accountability.
CNN —Big Oil companies have engaged in a “long-running greenwashing campaign” while raking in “record profits at the expense of American consumers,” the Democratic-led House Oversight Committee has found after a year-long investigation into climate disinformation from the fossil fuel industry. The committee found the fossil fuel industry is “posturing on climate issues while avoiding real commitments” to reducing greenhouse gas emissions. Lawmakers said it has sought to portray itself as part of the climate solution, even as internal industry documents reveal how companies have avoided making real commitments. Many of their requests for internal documents were heavily redacted by the companies, which did not specify reasons for withholding the information. “These companies know their climate pledges are inadequate but are prioritizing Big Oil’s record profits over the human costs of climate change,” Maloney said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTwitter is the modern public square and should not censor journalists, says Rep. Ro KhannaRep. Ro Khanna (D-Calif.) joins CNBC's 'Squawk Box' to discuss the recent release of internal documents from Twitter, known as the "Twitter Files," that detail the inner workings of the social media company before Elon Musk's acquisition.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Ro Khanna urges Twitter to protect free speech online after 'Twitter Files'Rep. Ro Khanna (D-Calif.) said in a new op-ed for The Wall Street Journal that Twitter went too far in censoring a news story about Hunter Biden ahead of the 2020 election.
WASHINGTON — President Joe Biden's push to make South Carolina the first major battleground in Democratic presidential primaries has a second big beneficiary: Vice President Kamala Harris. "It's a good demographic mix of having to appeal to Black voters, White working-class voters and Latino and Asian American voters." “How many Black voters are persuaded that the Democratic Party cares about them because South Carolina goes first? South Carolina, one of the most Republican states in the country, isn't competitive at the presidential level in general elections. “South Carolina is also known to be kind to those who’ve been kind to her,” he said.
The controversy involving Twitter and Hunter Biden dates to October 2020, weeks before the presidential election between Joe Biden and then-President Donald Trump. Taibbi wrote that he has seen no evidence that there was government involvement in Twitter’s move to block the New York Post story. Shortly after the New York Post published the article, Twitter pointed to concerns about hacked materials as the reason for blocking the story. Zuckerberg cited warnings from the FBI about election-related threats, though none about Hunter Biden in particular. Hunter Biden has said that federal prosecutors in Delaware are investigating his taxes.
In October 2020, Twitter initially blocked users from sharing a New York Post story about Hunter Biden's laptop. Rep. Ro Khanna sent Twitter concerns about the decision, according to materials published Friday. Less than a month before the 2020 election, the Post published a story that claimed to contain emails retrieved from a laptop that belonged to President Joe Biden's son Hunter. Giving an example, Khanna said if materials uncovering a war crime were hacked and obtained by The New York Times, the Times should be able to publish them. New York Times Co. v. Sullivan established that public figures suing for defamation must establish "actual malice."
Twitter's decision to throttle stories about Hunter Biden's laptop prompted bipartisan criticism. Some lawmakers have since called to repeal Section 230, a law "that created the internet." The criticism has since intensified a movement to repeal Section 230, which could change the Internet forever. Much of Taibbi's thread focused on Twitter's handling of the New York Post's October 2020 story about Hunter Biden's laptop, which the Post reported was left in a Delaware repair shop. Representatives for Khanna did not answer questions about the congressman's current position on whether or not to repeal Section 230.
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