"The campaign to defeat Prop D has received individual donations from five billionaires, in addition to contributions from companies with billionaire leaders and other firms with massive CEO-worker pay gaps."
"Prop. D, backed by more than 20 labor groups, would increase the business taxes on companies with more than 1,000 employees and $1 billion in gross receipts that pay their CEOs more than 100 times the pay of the median worker."
"Among those companies the tax would impact: Starbucks, Door Dash, Uber, PG&E, and Comcast. They would pay a higher tax on their gross receipts in San Francisco, even if they are not based here."
Proposition D aims to increase business taxes on large companies with significant CEO-worker pay gaps, generating $300 million for San Francisco. The campaign against it has garnered support from five billionaires and major corporations like Amazon and Google. These donors are also backing Proposition C, which favors smaller businesses. The tax would affect companies such as Starbucks and Uber, which have been criticized for low employee wages. Analysts are closely monitoring the escalating financial influence in this local tax debate.
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