SF Prop M (2024)

San Francisco's business tax overhaul, passed as Prop M in November 2024, is now at the center of a fierce fight over the city's economic future. Supporters of a new "CEO Tax" proposal want to layer additional gross receipts taxes—up to 800% higher for companies with large pay ratios—on top of Prop M's reforms, while tech advocates argue SF is the only major city with *growing* startup formation and risks squandering its AI boom lead. The debate has become a proxy war over whether City Hall will capitalize on SF's dominance in early-stage venture funding or drive the companies driving that growth out of town.