THE SF CEO TAX RETURNS…UNDER A NEW NAME
A week before the Thanksgiving holiday, a motion was quietly filed to revive a proposed tax on San Francisco’s top executives. Simply put, the San Francisco CEO Tax is back under a new name. We explain all you need to know below.
On November 19, San Francisco Supervisors Haney, Ronen, Walton, Mar, Brown and Yee re-introduced what has become dubbed the “CEO Tax” under a new name. Meet the “Tax on Businesses With Disproportionate Executive Pay to Fund Mental Health Services.” Like its original iteration, the tax is directed at businesses with a ratio greater than 100-to-1 regarding the compensation of the company’s highest-paid employee—anywhere in the world—to the median compensation of employees based in San Francisco.
The revived CEO Tax is intended to go to the November 2020 ballot. All money raised under the tax would fund a proposed overhaul of San Francisco’s mental health system known as Mental Health SF, as well as other mental health services in the City. As a dedicated tax, the ordinance would require two-thirds voter approval to pass. It is currently assigned to the Budget and Finance Committee and has yet to be calendared for discussion. Rest assured, sf.citi will keep you informed of further updates!
TECH COMMITS TO CALIFORNIA HOUSING SOLUTIONS
Housing has become the number 1, 2, and 3 issue in California. At a time when we desperately need more housing, sf.citi is proud to see tech companies making incredible housing commitments. Now we need government to follow.
In the past six months, Apple joined sf.citi members Facebook and Google in collectively pledging $4.5 billion toward California’s housing crisis. Aside from demonstrating tech’s willingness to be part of the solution to housing in the Bay Area, these commendable housing contributions signal the dire need for government action. sf.citi echoes the calls for policy reform from local legislators like California State Senator Scott Wiener and California Assemblymember Phil Ting, both of whom emphasize that “funding on its own will not allow us to build enough housing.”
sf.citi and our members are committed to collaborating with policymakers on improving housing affordability in San Francisco and the Bay Area. This past year alone, we helped pass San Francisco’s largest affordable housing bond in history and supported state-level solutions to streamline housing development. In 2020, we and our members plan to do even more.
POST GIVING TUESDAY: HOW TO KEEP GIVING
People and companies across the country supported charitable causes this week for Giving Tuesday. Continue the spirit of giving here in San Francisco with our friends at Meals on Wheels.
Every day, Meals on Wheels San Francisco (MOWSF) cooks and packages anywhere from 3,000 to 8,000 meals for seniors in the City. MOWSF then relies upon an army of volunteers to help deliver these freshly cooked meals to their clients. You can volunteer for a day, like many tech employees did this time last year during sf.citi’s inaugural One City Gives Holiday Day of Action of Seniors in the Tenderloin. You can also draw inspiration from people like Phil Ishida. He began volunteering with MOWSF through his company and then applied for a permanent position as a Home-Delivered Meals driver after retiring.
Whatever your capacity, MOWSF has a volunteering opportunity for you or your company. We encourage all sf.citi members and friends to keep on giving throughout the holiday season by supporting our longtime partners at Meals on Wheels. Learn more about the MOWSF Home-Delivered Meals program and other volunteer opportunities below!
DID YOU KNOW?
This Sunday, December 8, you can learn all about sf.citi member Cruise’s self-driving technology at the San Francisco Museum of Modern Art (SFMOMA)…for free! Make sure to RSVP to discover plenty of art and the exciting possibilities of autonomous vehicles here.
BUZZ | #MEMBERNEWS
- Pinterest Has a New Plan to Address Self-Harm (WIRED)
- Google.org and YouTube CEO chip in to stop family homelessness (San Francisco Business Times)
- Salesforce to donate $17 million to fight climate change, economic inequality (San Francisco Chronicle)