Oppose Major Business Tax Increases

Tell the Mayor and Board of Supervisors to Oppose Major Increases in Business Taxes
2025 was a remarkable year of progress for San Francisco. But 2026 is shaping up to be a major election year, and we’re already facing serious threats to our city’s fragile economic recovery.

Several interest groups are supporting a destructive June 2026 ballot measure: the “Strengthening the Overpaid Executive Tax Rates Ordinance,” better known as the CEO Tax.

This measure would impose one of the most extreme business tax increases in the country, raising some local taxes on major businesses by more than 850%.

Despite its name, the “CEO Tax” isn’t actually a tax on CEOs - it’s a tax on businesses. Specifically, it punishes any company that pays its CEO a certain multiple more than its average worker, even if neither are based in San Francisco. This punitive approach hits entire businesses, their employees, and their customers.

And it doesn’t just apply to companies headquartered here. Any business that has any presence or business in San Francisco would be affected - including the retailers, pharmacies, grocery stores, and other businesses that are helping to rebuild downtown and merchant corridors across the City. If this measure passes, it will derail the momentum we’ve worked so hard to build over the last few years to boost our local economy.

Even worse, the measure is designed to be nearly impossible to reverse. If enacted, it could only be repealed through another citywide ballot measure and prohibits the Board of Supervisors from lowering the tax in the future.

We must act now - before the CEO Tax even makes it to the ballot.

Join us in urging the Mayor and the Board of Supervisors to oppose the CEO Tax ballot measure and speak out publicly against placing this job-killing measure on the ballot. City leaders need to hear that San Franciscans want solutions that continue our economic recovery and protect jobs; not punitive and extreme tax measures that will drive business back out of the city. We need our elected officials in City Hall to show that there is firm and principled opposition to the CEO Tax measure, and urge the measure’s proponents to withdraw their effort.
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Email Message to the Mayor and Board of Supervisors
Dear Mayor and Board of Supervisors,

I am writing to urge you to oppose the proposed ballot measure known as the Strengthening the Overpaid Executive Tax Rates Ordinance (CEO Tax), which is currently being advanced for the June 2026 ballot.

This measure would significantly expand and increase San Francisco’s business taxes at a time when the city is still struggling to retain employers, recover jobs, and rebuild its economic base. The proposal does not simply reverse the changes voters just approved under Proposition M in November 2024; it would raise tax rates to levels higher than those originally approved by voters in 2020.

The measure also dramatically expands the number of companies subject to the tax, even if their San Francisco footprint is limited. Compounding the concern, the measure would lock these increases in place by stripping the Board of Supervisors of its ability to repeal the tax without another citywide election and prohibiting future amendments at the Board that would lower rates.

This proposal would cement one of the most aggressive business tax structures in the country, just as San Francisco is trying to stabilize its economy and remain competitive with peer cities. I applaud your efforts to bring business back to San Francisco, but any public official that is truly pro-business must be publicly and vocally opposed to the CEO Tax. It is the responsibility for every elected official to use their considerable political capital to persuade the tax proponents to back down before this damaging measure comes before the public for a vote.

San Franciscans want solutions that grow the economy and help our city recover, not policies that risk driving employers and jobs elsewhere. As always, I thank you for your service to building a San Francisco for the future rather than failed policies of the past.

Sincerely,
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Tell the Mayor and Board of Supervisors to Oppose Major Increases in Business Taxes