"In November 2024, 69.5 percent of voters approved Prop. M, which eased the burden on the city's biggest companies while raising the burden on many smaller companies."
"Proposition D, the so-called overpaid CEO measure, would levy taxes on companies in which the CEO earns 100 times or more his or her median income employee."
"If voters approve, a measure meant to instill stability and predictability for businesses with offices in San Francisco would be replaced, not so long after the ink has dried."
In 2024, San Francisco voters approved Prop. M, which restructured the city's business tax, easing burdens on large companies while increasing taxes on smaller ones. This shift aimed to stabilize revenue but faced backlash. In response, service employee unions proposed Prop. D, targeting companies with CEOs earning significantly more than their median employees. If approved, Prop. D would counteract Prop. M's intentions, creating instability for businesses. The Chamber of Commerce is also proposing Prop. C to oppose Prop. D, indicating ongoing tensions over tax policies in the city.
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