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San Francisco voters endorse tax to support homeless

San Francisco voters endorse tax to support homeless

San Francisco voters have endorsed an initiative to tax big companies to help the homeless.

The initiative, also known as Proposition C received 59.9% of the votes(YES votes) during the midterm elections on November 6. The No votes accounted for 40.1% of total votes cast.

Large businesses with over $50 million returns will be taxed 0.175 to 0.69 percent to fight homelessness through financing beds, mental health services and prevention of homelessness.

Proposition C will double San Francisco’s current budget to help rescue those living in the streets. The tax on large businesses is expected to bring in from $250 million and $300 million annually.

This article was first published here https://www.invests.com/2018/11/08/san-francisco-votes-to-tax-big-business-to-rescue-its-homeless/.

 

 

 

 

 

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Bob
Nov/14/2018

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