San Francisco's union-backed "CEO tax" is heading to the June 2026 ballot with misleading branding—it doesn't actually tax CEOs but instead imposes an 800% gross receipts tax increase that will hit grocery stores, pharmacies, and everyday consumers. The measure comes as one-third of downtown office space sits empty and $400 billion worth of major companies have already fled the city, making San Francisco startups pay millions more in taxes than identical businesses just 30 miles away in Silicon Valley suburbs.
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.