REPORT: The homeless tax proposal and how it faired Tuesday
As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by CNBC:
The controversial San Francisco “homelessness tax” that divided the tech industry passed, according to poll tallies Tuesday night.
Proposition C will increase gross receipts taxes for companies with more than $50 million in annual revenue by an average of .5 percent, generating up to $300 million a year to combat the city’s homelessness crisis through initiatives like new beds in shelters and increased mental health services.
The article goes on to state the following:
Prop C had both vocal proponents and vehement detractors in the tech industry.
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