San Francisco Passes Tech Tax To Fund Homelessness Services

Cornelia Mascio
Novembre 8, 2018

San Francisco voters approved a plan to tax big businesses in the city to raise as much as $300 million a year for programs for the homeless. Businesses with over $50 million in gross annual receipts would be taxed at about 0.5 percent and those with over $1 billion in gross annual receipts would pay 1.5 percent of payroll expenses. If it passes, it will almost double San Francisco's budget dedicated to the curbing homelessness by adding $300 million a year to fund housing, shelters, mental health services and preventive measures. Let the city come together in Love for those who need it most!

Prop. C expects to raise as much as $300 million for homelessness services, almost doubling what San Francisco now spends to help the estimated 7,500 individuals and 1,200 families living on its streets.

Despite the possibility of jobs leaving the city, it was championed by House Minority Leader Nancy Pelosi (D-Calif.), Rep Jackie Speier (D-Calif.), the San Francisco police commissioner, the San Francisco Board of Education leaders and some of the city's progressive supervisors.

Salesforce founder and CEO Marc Benioff had spent about $7 million to help fund the campaign for the measure, the Chronicle reported.

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