""The Prop D tax doesn't actually tax CEOs. What it does is tax transactions. And that's going to be passed on to consumers," said Steven Bacio, policy director at GrowSF."
""We're going to see a rise in grocery prices, a rise in pharmacy prices, home goods prices, clothing prices, all of that is going to affect regular San Franciscans and their families," Bacio said."
Proposition D proposes an increase in business taxes for companies with significant executive pay disparities. Supporters claim it will generate funds for essential city services. However, a study by the Pragmatic Policy Group suggests the tax could negatively impact low-margin businesses, leading to profit losses and potential price increases for consumers. Estimates indicate consumer prices in San Francisco could rise by 0.1% to 0.2%, affecting everyday goods and services. Opponents argue the tax ultimately burdens consumers rather than targeting executives directly.
Read at ABC7 San Francisco
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