South SFV Today

Rep. Ro Khanna, who represents California’s 17th district in the U.S. Congress, has recently made a series of statements addressing issues related to health insurance and credit card debt. Known for his advocacy on economic and healthcare reforms, Khanna's latest comments reflect ongoing concerns about corporate practices affecting American consumers.

On December 9, 2024, Rep. Khanna corrected previous information regarding the financial status of major U.S. health insurance companies. He stated that "the largest U.S. health insurance companies had $1.4 trillion in revenue, and $70.7 billion in profit last year."

The following day, December 10, 2024, he highlighted an issue faced by many Americans concerning holiday-related credit card debt: "28% of credit card users are still paying off last year’s holiday debt." Khanna criticized corporations for exploiting consumers with high-interest rates and advocated for a policy change by stating that "it’s time for a 10% interest rate cap."

Later on December 10, Rep. Khanna addressed public dissatisfaction with private insurance companies' handling of claims related to serious illnesses such as cancer, heart disease, and diabetes. He noted that while these companies reported significant revenues—"Americans across the land are rising up against private insurance companies denying claims...while bringing in $1.4 trillion in revenue." He also proposed three specific reforms aimed at ensuring all Americans receive necessary healthcare services.