In San Francisco, early election returns showed both Propositions D and C — competing measures on the June ballot — well below the majority vote needed to pass.
Proposition D, known as the Overpaid CEO Act, would change the basis for the city’s existing Top Executive Pay Tax from the median pay of a business’s employees in San Francisco to all of its employees, regardless of location.
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The measure had widespread support from local labor unions and progressive groups, who said the funding generated by the increased tax measure, projected at around $300 million annually, was much needed as San Francisco faces millions of dollars in federal funding cuts and a $600 million budget shortfall over the next two years.
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