The “Overpaid CEO” business tax measure is still on track to lose after Thursday’s release of another 15,000 ballots.
The measure, which would raise taxes on businesses whose top executive makes more than 100 times its median employee, was failing by a 55 to 45 margin on election night. In today’s vote drop, that ratio was more or less maintained: 54 percent of new ballots opposed the tax increase, while 46 percent favor it.
The Department of Elections still has to count 128,000 votes, about half of all ballots cast.
Regardless, today’s news was not good for the measure. While it needed more yes votes than noes to overcome that 10-point deficit, in today’s ballots it merely lost by less.
The measure was placed on the ballot by San Francisco labor unions to raise revenue for the city, which currently has a $600 million budget deficit.
Because of the large deficit, the mayor has laid off 127 people, many of whom were union employees, and eliminated more than 400 unfilled positions. And, since the city is still projected to have a deficit next year, more layoffs and cuts may be on the table in the future.
Opposing the measure were the city’s business community and Mayor Daniel Lurie, who has been working to fill the city’s vacant storefronts. They worried that a business tax increase would lead to businesses leaving the city or being reluctant to open here.
They also pointed to Prop. M, a 2024 overhaul of San Francisco’s business tax structure, that was supposed to create a predictable system.
Though 15,000 votes is not many — only about 6 percent of the total turnout — Prop. D’s path to victory is narrowing. To win, it will have to win the remaining 128,000 votes by at least a 55 to 45 margin. While this is mathematically possible, it is not particularly plausible.
While more progressive voters typically vote late and have their votes counted late, an inordinate number of San Franciscans this year turned in their ballots in the election’s waning hours.
These voters, more than prior years, likely hail from across the city’s ideological spectrum, making it difficult to predict voting patterns as hundreds of thousands of ballots are counted. It also renders dramatic late shifts less likely.
“There are still over 120,000 votes to be counted,” said a game Scott Mann, the Yes on D spokesman. “And we are hopeful that San Franciscans won’t let corporate checkbooks have the last word.”
How about at least making the drug dealers pay their taxes since the are being allowed to operate freely and openly ?
City isnt able to get control abd arrest them so why not make sure their business is registered and tax them
That would solve the deficit
This is the problem with being so progressive that you lose site of your dependencies/symbiotic relationships with the right. More than enough voters were wise enough to vote no. Therefore, live and learn from other countries that do this right. https://www.visualcapitalist.com/ranked-the-worlds-most-prosperous-countries-in-2026/
Maybe we can put a stupid socialists tax on the ballot next?
How long it takes to tally votes. Half of votes being uncounted is embarrassing.
How about you volunteer as a poll worker if you have that big of a problem.