In the Face of Trump Cuts, S.F. Needs More Revenue
When budget season rolls around every year, the narrative surrounding it is always about how many essential services and programs need to be cut due to budget deficits. What if we didn’t need to worry about that? What if we spent that energy on finding new revenue sources so that all of our essential services can stay funded and more? An emerging coalition of labor unions and progressive organizations want to make that a reality. “Stand Up for SF” have started gathering signatures to get an Overpaid CEO Tax on the November 2026 ballot. This tax is in direct response to Trump’s “One Big Beautiful Bill” Act, which is projected to cut hundreds of millions of dollars from San Francisco’s budget.
The Overpaid CEO Tax is exactly what we need right now. It will tax large corporations (more than 1000 employees and $1 billion annual revenue) whose CEOs make more than 100 times the median salary of its workers. It would generate $200 million for San Francisco’s general fund. There is no need for a CEO to ever make more than 100 times what their median employee makes. This tax will make progress on leveling the playing field and keeping San Francisco a place where working families can live. The next thing we need to do to generate billions of dollars in revenue for all of California is to reform Proposition 13. No matter how you spin it, billionaires and CEOs make far too much money to not contribute more revenue to the city and the state.
St. John Barned-Smith/S.F. Chronicle
‘Fighting back’: S.F. campaign launched to tax corporations with highest-paid CEOs
By St. John Barned-Smith | SF Chronicle | December 6th, 2025