San Francisco's Proposition D — branded as an "Overpaid CEO Tax" — is on the June 2026 ballot and would raise gross receipts tax rates by roughly 800%, exempting major tech companies while hitting grocery stores, pharmacies, and coffee shops hardest. The tax doesn't touch CEO paychecks; businesses pay it on total revenue, and economists say those costs get passed to consumers. Meanwhile, debate over commercial property tax reform has heated up after gubernatorial candidate Tom Steyer inflated the fiscal impact of Prop 13's "split roll" loophole by up to 150%, renaming a 1978 Democratic law after Donald Trump to build political momentum.
Prop D's 800% rate hike exempts every major tech company while hitting grocery stores, pharmacies, and coffee shops hard.
Tom Steyer renamed a 1978 Democratic law after Donald Trump and called it a plan. The loophole is real. The history, and the math, are not.
San Francisco is the only tech hub in America with growing startup formation—and city hall is doing everything it can to drive companies out.
SF Chronicle says murals can revive empty buildings. Meanwhile, the city's about to make it impossible to do business downtown.
It doesn't tax CEOs. It's an 800% gross receipts hike that hits Safeway shoppers while executives pay nothing.
Unions want an 800% tax increase disguised as class warfare—and they're breaking a deal they made just last year.
Labor coalition wants an 800% tax hike while 1/3 of downtown sits empty. They're breaking the deal they made last year.