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Proposition D, a labor-backed rise in San Francisco's tax on companies whose top executives earn 100 times their workers, projected at about $300 million a year, failed 52.8% to 47.2%; its business-backed rival, Measure C, lost 66% to 34%.

Passed unanimously by the Board of Supervisors for the first time in six years, the $16.9 billion budget for FY2026-27 and 2027-28 closes a $642 million deficit and cuts the city's structural gap by about $300 million.