California News

San Francisco Considers Taxing Companies To Help Homeless

Fox Business-


San Francisco voters will decide in November whether to tax large businesses to pay for homeless and housing services, an issue that set off a battle in another West Coast city struggling with income inequality

The city elections department verified Monday that supporters had collected enough signatures to get the measure on the ballot. It would raise about $300 million a year — doubling what San Francisco spends on homelessness — for more shelter beds and housing for people who are homeless or at risk of becoming so.

The money would come from an average half-percent tax increase on companies’ revenue above $50 million each year.

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