South Bay

Ro Khanna is facing sharp criticism for co-sponsoring a 5% annual wealth tax on unrealized gains — a bill that would directly hit the Silicon Valley companies and founders in his own district. Meanwhile, San Jose Mayor Matt Mahan is emerging as the South Bay's most consequential political figure, turning zero market-rate home starts in 2024 into 2,000 new units in 2025 through fee cuts, and positioning himself as the fiscally serious alternative in the governor's race.