sf.citi ENDORSES BUSINESS TAX REFORM PROPOSAL
We are thrilled to share that San Francisco’s journey toward business tax reform—initially introduced by Mayor London Breed and Board President Aaron Peskin, with leadership and guidance from Chief Economist Ted Egan, Treasurer José Cisneros, and former City Controller Ben Rosenfield—has reached a pivotal milestone with the release of the final version of the Business Tax Reform Proposal. This measure, which would take effect on January 1, 2025, is the result of extensive consultations, collaboration, and support by key figures in the labor and business communities, illustrating a unified approach to our city’s economic recovery and reform. Importantly, sf.citi members have been central to these conversations, actively helping shape the package to ensure it includes provisions that benefit both our members and the broader tech sector.
Our engagement has been vital in securing a proposal that simplifies the tax code, significantly raises the small business exemption ceiling, and introduces targeted tax credits—ultimately fostering a more stable and equitable economic environment across all sectors. By creating a fairer tax environment and reducing volatility, this proposal is poised to make San Francisco a more competitive and attractive place for businesses of all sizes.
As we move forward, we invite all San Franciscans to support the positive changes this significant achievement will bring to our city. This reform benefits not only the tech sector but all businesses in our City, paving the way for a more vibrant and resilient economic future. We look forward to the promising developments ahead and hope you share our optimism.
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