SAN FRANCISCO—On Tuesday, November 6, San Franciscans passed Proposition C on a by a margin of 60 percent in favor to 40 percent against. The proposition will ensure that multi-million dollar companies assist with homelessness prevention.
The Prop C was proposed by the Coalition of Homelessness, a homelessness prevention advocacy group. A yes vote ensured that companies that make over $50 million in gross annual receipts will be taxed .175 percent to .69 percent more and companies that make over $1 billion in gross annual receipts will be taxed 1.5 percent.
The approved tax could add up to $300 million annually to San Francisco’s homeless budget, double than what it previously was. The money will be spent towards mental health services, shelters, addiction treatment, and preventing homelessness.
Endorsements helped promote the proposition including one by Marc Benioff, CEO of Salesforce.com. For weeks leading up to Election Day, Benioff was a strong advocate for the proposition, donating about $2 million of his own dollars and $6 million dollars from Salesforce to the campaign. He argued that financial aid to homeless prevention helps to aid in seeing progress.
Other major companies, such as Lyft, Stripe, Visa, and Square, were opposed to the prop, arguing to vote “No on C” as the amount of money donated towards homelessness relief has not impact in the past.
San Francisco Mayor London Breed previously opposed the proposition, but stated on Twitter that she is “ready to work with supporters on the measure.” One Twitter user expressed his shared concern stating that “the mayor has said she doesn’t have the accountability or controls she needs to manage it well…If she doesn’t feel she can, we need to listen and understand why.” Mayor Breed’s plans to implement about 1,000 shelter beds by 2020 will still be implemented.
Benioff, due to his recent victory in the proposition being passed, stated in a tweet that “Prop C’s victory means the homeless will have a home & the help they truly need! Let the city come together in Love for those who need it most!”