The San Francisco Board of Supervisors unanimously approved a resolution advocating for income and wealth taxes on the wealthiest citizens, marking a significant shift in local tax policy. Although state laws currently prevent local taxation of income and wealth, this measure calls on local legislators to seek changes. The resolution, which could potentially address the city's budget deficit without service cuts, comes amidst increasing public scrutiny of how the wealthy contribute to taxes, particularly in light of recent tax cuts.
The unanimous approval of a resolution calling for income and wealth taxes on the wealthiest San Franciscans marks a significant shift in local tax policy.
This resolution is a call to the San Francisco delegation in Sacramento to pursue changes to the state laws, potentially transforming local government finance.
Proponents argue that a modest income tax on the rich could address the city’s budget deficit without cuts to public services.
The resolution highlights a growing trend of resistance against billionaires not paying their fair share of taxes in light of recent tax cuts.
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