San Francisco voters approved a plan to tax big businesses in the city to raise as much as $300 million a year for programs for the homeless.
The measure, called Proposition C, won by a vote of 60-40 percent, according to the San Francisco Chronicle.
It is designed to charge companies with revenue above $50 million about 0.5 percent in gross receipts tax, the newspaper said. The money will go entirely to homeless programs – and almost double the amount already being spent on housing and services for the homeless.
The New York Post reported the money will be used for new permanent and short-term shelters, mental health services and preventable measures for the city’s estimated 7,500 homeless individuals and 1,200 families forced to live on the streets.
Salesforce founder and CEO Marc Benioff had spent about $7 million to help fund the campaign for the measure, the Chronicle reported.
Benioff wrote on Twitter: “Prop C’s victory means the homeless will have a home & the help they truly need! Let the city come together in Love for those who need it most! There is no finish line when it come to helping the homeless. Thank you amazing supporters of Prop C!”