San Francisco could spend nearly $700 million by the end of 2019 to support its homeless population if it adopts a proposal that would raise the money by levying taxes on big companies.The city is considering Proposition C, a proposal to increase taxes on large companies in order to improve conditions for homeless people living in San Francisco, The Wall Street Journal reported Thursday.Companies with over $50 million in revenue would be taxed “0.175 percent to 0.69 percent on gross receipts for businesses with over $50 million in gross annual receipts,” or “1.5 percent of payroll expenses for certain businesses with over $1 billion in gross annual receipts and administrative offices in San Francisco,” according to BallotPedia.If voters elect to adopt the ballot, the measure would produce an estimated $300 million in 2019 to be used for homeless aid — and San Francisco already spends $380 million in aid for the homeless population, according to TheWSJ.
California is our national refugee center, California and Texas.
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