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2026 San Francisco Measure D

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2026 San Francisco Measure D
June 2, 2026
Increases to Business Tax Based on Comparison of Top Executive's Pay to Employees' Pay Measure[1]
Results
Choice
 Votes %
Yes 118,802 47.19%
No 132,959 52.81%
Valid votes 251,761 92.75%
Invalid or blank votes 19,694 7.25%
Total votes 271,455 100.00%
Registered voters/turnout 533,546 50.88%

Measure D,[a] colloquially known as the overpaid CEO tax or overpaid CEO act, was an initiative that appeared on the June 2, 2026, ballot in San Francisco, California. The measure aimed to change the top executive pay tax that the city collects from some large businesses when their highest-paid managerial employee earns more than 100 times the median compensation paid to other employees.

The measure also sought to increase the top executive pay tax rates and introduce a voter approval requirement for future changes to the tax rates. It failed, with a narrow majority of voters opposing the changes.

Background and impact

[edit]

Labor coalition Stand Up for SF submitted the initiative to the San Francisco city attorney in November 2025, framing it as a solution to Donald Trump's restrictions and cuts to Medicaid.[3]

Local union SEIU 2015, a member of Stand Up for SF, stated that the proposed changes would only affect companies with at least 1,000 employees and more than US$1 billion in revenue, whose CEOs earn one hundred times the median salary of their employees.[3] Stand Up for SF claimed that the initiative would generate more than US$200 million a year to support health care services in the city.[4]

City controller Greg Wagner produced a similar estimate, asserting that from 2027, the overpaid CEO tax would generate $250 million to $300 million in new revenue for San Francisco's general fund, though he also warned of "potential risk of business relocation" if the measure passed.[5] In May 2026, San Francisco chief economist Ted Egan released an analysis of Measure D, warning that the initiative would hurt the city's economy and result in more than 900 job losses.[6][7][8]

Endorsements

[edit]

Support

[edit]

Supporters of Measure D included prominent Democratic gubernatorial candidates, such as billionaire Tom Steyer and former U.S. representative Katie Porter.[4][9] The initiative was endorsed by U.S. senator Bernie Sanders, who said that the tax rate increase "will make ... corporations pay their fair share",[4] as well as a supermajority of the San Francisco Board of Supervisors and state assemblymember Matt Haney.[10][11]

Yes
U.S. senators
U.S. representatives
Statewide officials
State legislators
Local officials
Individuals
Labor unions
Organizations
Political parties
Newspapers

Opposition

[edit]

San Francisco mayor Daniel Lurie, a moderate Democrat,[24] publicly opposed the measure.[10] Speaking to the San Francisco Chronicle, Lurie stated that the measure was "not the right path for [San Francisco] at this time" and would "send the wrong message to businesses".[17] State senator Scott Wiener endorsed against the measure for similar reasons, warning that it would harm San Francisco's economic recovery after the COVID-19 pandemic.[25] After Wiener expressed his opposition to the initiative, labor union SEIU California rescinded their support for his congressional campaign to succeed Nancy Pelosi.[25]

In April 2026, the San Francisco Democratic County Central Committee voted to oppose the overpaid CEO tax in a 14-17 endorsement vote.[5] The San Francisco Republican Party also endorsed against the initiative.[26]

By April 2026, opposition groups had collected millions of dollars from corporations and businesses,[27] including Uber, Williams Sonoma, PG&E, Google, and Amazon.[27] At one point, over half of the funds raised by opposition groups had come from a small contingent of billionaire donors.[28] In May 2026, the editorial board of the San Francisco Chronicle publicly opposed Measure D, asserting that residents would end up paying more taxes if the initiative passed.[29] Both the Bay Area Reporter and the San Francisco Examiner endorsed against the initiative for similar reasons.[30][31]

No
State legislators
Local officials
Individuals
Organizations
Political parties
Newspapers

Results

[edit]
2026 San Francisco Measure D
ChoiceVotes%
For118,80247.19
Against132,95952.81
Total251,761100.00
Valid votes251,76192.75
Invalid/blank votes19,6947.25
Total votes271,455100.00
Registered voters/turnout533,54650.88
Source: [39]

Notes

[edit]
  1. ↑ Also referred to as Proposition D.[2]

References

[edit]
  1. ↑ "Qualified measures". San Francisco. Retrieved 19 April 2026.
  2. ↑ Sturm, Sylvie (12 March 2026). "Billionaire Money, Ballot Power and the Fight Over San Francisco's CEO Tax". San Francisco Public Press. Retrieved 19 April 2026.
  3. 1 2 Ortenburger, Mara (6 November 2025). "A San Francisco Coalition Introduces The "Overpaid CEO Act" to Protect Critical City Services". SEIU2015. Retrieved 19 April 2026.
  4. 1 2 3 4 5 6 7 McFadden, Alyce (16 April 2026). "Bernie Sanders endorses S.F. Overpaid CEO Act in keeping with his tax-the-rich message". San Francisco Chronicle. Retrieved 19 April 2026.
  5. 1 2 3 Hoge, Patrick (29 March 2026). "Overpaid Executive Tax fight divisive, costly". San Francisco Examiner. Retrieved 19 April 2026.
  6. ↑ "City economist raises red flags on SF's 'overpaid CEO tax'". San Francisco Standard. 14 May 2026. Retrieved 15 May 2026.
  7. ↑ Li, Roland (14 May 2026). "S.F.'s Overpaid CEO Tax could cost city more than 900 jobs, city study says". San Francisco Chronicle. Retrieved 15 May 2026.
  8. ↑ Hoge, Patrick (14 May 2026). "SF's chief economist cites Prop. D's risk". San Francisco Examiner. Retrieved 15 May 2026.
  9. 1 2 3 4 5 6 Ghost, John (26 March 2026). "San Francisco asks voters to tax corporations with big pay gaps". When In Your State. Retrieved 19 April 2026.
  10. 1 2 3 4 5 6 7 8 9 10 Gilman, Io Yeh (22 January 2026). "S.F. Mayor Lurie doesn't like the CEO tax. But his allies on the board do". Mission Local. Retrieved 19 April 2026.
  11. 1 2 3 4 5 6 Humenyuk, Iryna; Eskenazi, Joe (25 March 2026). "We asked every S.F. politician about the 'Overpaid CEO' tax. Here are their answers". Mission Local. Retrieved 19 April 2026.
  12. ↑ Gardiner, Dustin; Jones, Blake; Mason, Melanie (9 April 2026). "Katie Porter returns to her populist roots". POLITICO. Retrieved 19 April 2026.
  13. ↑ Vân Neely, Abigail (3 June 2026). "San Francisco 'Overpaid CEO tax' losing, but rival measure trounced". Mission Local. Retrieved 3 June 2026.
  14. ↑ Zakharenko, Hanna; Garofoli, Joe (18 April 2026). "Money is pouring into the race to succeed Nancy Pelosi. Here's who has the most". San Francisco Chronicle. Retrieved 19 April 2026.
  15. 1 2 Hoge, Patrick (31 October 2025). "Unions want 'Overpaid Executive' tax hike". San Francisco Examiner. Retrieved 19 April 2026.
  16. 1 2 3 4 5 "A Coalition of Unions and Community Groups Launch Signature Gathering Drive for the "Overpaid CEO Act"". FOX59. Retrieved 19 April 2026.
  17. 1 2 3 4 5 6 Morris, J. D. (21 January 2026). "A big S.F. tax fight is headed to the ballot. Daniel Lurie wants to stop it". San Francisco Chronicle. Retrieved 19 April 2026.
  18. ↑ Garofoli, Joe (28 January 2026). "Teamsters California endorses proposed billionaire tax". San Francisco Chronicle. Retrieved 18 March 2026.
  19. 1 2 3 4 Gardiner, Dustin; Holden, Lindsey (30 March 2026). "SF tech donors take aim at 'overpaid CEO tax'". POLITICO. Retrieved 19 April 2026.
  20. ↑ "Endorsements". Harvey Milk LGBTQ Democratic Club. Retrieved 22 April 2026.
  21. ↑ Brinklow, Adam (26 May 2026). "Two 'Overpaid CEO' Tax Measures Clash, And SF's Budget Crisis Looms". The Frisc. Retrieved 29 May 2026.
  22. ↑ "June 2026 Endorsements". San Francisco Green Party. Retrieved 4 June 2026.
  23. ↑ Redmond, Tim (6 May 2026). "ENDORSEMENTS for the June 2 election". San Francisco Bay Guardian. Retrieved 7 May 2026.
  24. ↑ Waddick, Karissa. "Outsider Daniel Lurie beats incumbent London Breed in San Francisco mayoral race". USA TODAY. Retrieved 20 April 2026.
  25. 1 2 3 Gilman, Io Yeh (8 April 2026). "SEIU California un-endorses Scott Wiener for Congress". Mission Local. Retrieved 19 April 2026.
  26. 1 2 "The San Francisco Republican Party's endorsements for the June 2026 Election". Instagram. @sanfranciscogop. Retrieved 20 April 2026.
  27. 1 2 "The Corporate and Billionaire Opponents of San Francisco's Overpaid Executive Tax". Institute for Policy Studies. 29 April 2026. Retrieved 30 April 2026.
  28. ↑ Sturm, Sylvie (2026-03-12). "Billionaire Money, Ballot Power and the Fight Over San Francisco's CEO Tax". Retrieved 2026-08-15.
  29. 1 2 "Endorsement: Overpaid CEOs won't pay a cent under S.F.'s Prop D. But you will". San Francisco Chronicle. 15 May 2026. Retrieved 17 May 2026.
  30. 1 2 "Home Opinion Editorial Editorial: SF ballot measure recommendations". Bay Area Reporter. Retrieved 21 May 2026.
  31. 1 2 "The Examiner's proposition endorsements: Yes on A and C, no on B and D". San Francisco Examiner. 26 May 2026. Retrieved 27 May 2026.
  32. ↑ "Viewpoint: A historic tax hike is the last thing San Francisco needs". San Francisco Business Times. 21 May 2026. Retrieved 24 May 2026.
  33. ↑ "For Candidates". Alice B. Toklas LGBTQ Democratic Club. Retrieved 4 June 2026.
  34. ↑ "June 2026 Voter Guide". Blueprint SF. Retrieved 4 June 2026.
  35. ↑ "CEO Tax Doesn't Tax CEOs". GrowSF. Retrieved 26 April 2026.
  36. ↑ "San Francisco Billionaire Punches Back Against 'Overpaid' CEO Tax". Financial Post.
  37. ↑ "San Francisco Prop D - Business Tax Increase". SPUR. 30 April 2026. Retrieved 24 May 2026.
  38. ↑ @sf.citi; (30 May 2026). "Vote NO on Prop D." Retrieved 4 June 2026 – via Instagram.
  39. ↑ "June 2, 2026, Consolidated Statewide Direct Primary Election". San Francisco Elections. Retrieved 3 June 2026.
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