sf.citi Election and Tax Reform Updates

BUSINESS TAX REFORM UPDATE

Following previous conversations that have taken place since late last year, the Office of Workforce Development and Controller’s Office will be moving forward with a draft business tax reform proposal for the November ballot, with the overall goal being stabilization of tax revenue. Final recommendations were released early February after extensive feedback and several rounds of revisions. However, a more recently updated version of the proposal includes increased provisions for small businesses and an allocation of funds designated to mitigate impacts on certain industries, specifically biotech. We will continue to update sf.citi membership on further developments regarding this crucial initiative.

MEETING WITH TOGETHERSF

Earlier this month, sf.citi met with TogetherSF, a nonprofit working to increase civic engagement and education in San Francisco, to discuss their proposed November ballot measure aimed at amending the City’s Charter. The meeting served as a valuable opportunity for sf.citi members to hear directly from Kanishka Cheng, Chief Executive Officer, and Margaux Kelly, Chief Community Officer of TogetherSF, on how structural reforms can help drive government efficiency. Thank you to all of the sf.citi members who attended. To learn more about this impactful reform measure, please visit the TogetherSF website and watch their video overview.

WELCOMING THE NEW CONTROLLER

Yesterday marked an exciting day for San Francisco, as Mayor Breed officially swore in Greg Wagner as the new Controller. Wagner brings a wealth of experience in finance and City operations to this integral role, which strengthens fiscal responsibility and accountability within City Hall. Prior, Wagner served as the Chief Operating Officer for the Department of Public Health and as Mayor’s Budget Director for Mayors Gavin Newsom and Ed Lee. sf.citi thanks outgoing Controller Ben Rosenfield for his 26 years of service to the City and looks forward to San Francisco’s continued progress and advancement under Controller Wagner’s leadership.

SF NEWS & UPDATES

• How San Francisco staged a surprising comeback(The Economist)
• San Francisco hopes college students can save downtown. This university is already trying (SF Standard)
• Column: They say San Francisco is coming back as a tech hub, but it never really left (LA Times)
• Bay Area’s power of proximity attracts talent back to the region (SF Business Times)