misguided tech jobs tax fails in san francisco

A misguided proposal to tax San Francisco tech companies for creating jobs — a proposal we vigorously opposed — failed this week at the Board of Supervisors. The proposal called for levying an additional 1.5 percent tax on payroll expenses of many large tech employers. An analysis by the Bay Area Council Economic Institute that was provided to the Board’s Budget and Finance Committee estimated that the tax would chill tech hiring and result in the loss of almost 3,700 jobs, including tech jobs and a wide range of other jobs across incomes that they support.

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