The San Francisco “Doom Loop”

Real or Manufactured?

In the 2023 budget, San Francisco already gave away $33 million in tax breaks to big businesses. The Board of Supervisors approved up to $33 million in tax cuts between fiscal year 2022-2023 and 2025-2026 by delaying the implementation of Prop F and giving millions in additional tax credits to large corporations that open offices downtown.

Now, the biggest corporations in San Francisco are pushing for more money in new tax cuts.

The plans for a radical tax overhaul include:

  • Eliminating the homelessness business tax

  • Reducing the overpaid executive tax revenue by 90%

  • Reducing the commercial rents tax revenue by 50%

These corporate tax cuts would drain revenue from our City while lining the pockets of CEOs.

Taxes support everyone in San Francisco, from residents to small businesses. It’s vital that our public services are protected. Massive tax cuts for the wealthy will lead to service cuts that hurt our parks, libraries, public transit, public hospitals, homeless shelters, and more. Wealthy CEOs and big corporations need to pay their fair share! 

Together, let’s say: Enough is enough. Stop the doom loop!