Next week San Francisco residents will be voting on Proposition E. Prop E would replace the payroll tax and encourage job creation as well as bring equity to business tax policy. San Francisco is the only city in California with a payroll tax, which discourages businesses from adding new employees. Instead Prop E will replace it with a gross receipts tax, which more than three dozen cities in California already use successfully.
Proposition E has been endorsed by many business and labor groups, by the mayor and every single member of the Board of Supervisors. Most people in the tech industry endorses it as well. Below is a video of San Francisco’s tech leaders promoting a more tech oriented San Francisco as well endorsing Prop E.
Prop E is estimated to increase tax revenue for the city of around $28.5 million next year, and a significantly more startup-friendly environment.
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