\u201cIt should come as no surprise that this body is considering doing the bidding of the billionaires, given its cozy relationship with some of the loudest opponents of Prop. 40, including \u2014 and I will say names \u2014 Chris Larsen and Garry Tan,\u201d said committee member Peter Gallotta.<\/p>\n
Supervisor Matt Dorsey, was among the majority of the party\u2019s members opposed to Prop. 40.<\/p>\n
![\"Signs](\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/08\/1787812690_505_-S3840x2560-FPNG.png\"\/)
During the contentious Wednesday meeting, those for and against the billionaire tax were seemingly competing to see who could hold their signs higher in view of the San Francisco Democratic Party\u2019s committee members. | Source: Omar Rashad\/The Standard<\/p>\n
While the debate had a back and forth to it, the ultimate vote was one-sided, unlike the narrow statewide party vote held earlier this month. Wednesday\u2019s vote was also unprecedented \u2014 it\u2019s unusual for a local democratic party to break rank with the statewide party over political endorsements.\u00a0<\/p>\n
But to even get to Wednesday\u2019s vote, as reported by Mission Local (opens in new tab)<\/a>, the local democratic party changed its bylaws in June to allow for a vote that doesn\u2019t align with the statewide party.<\/p>\n Additionally, the billionaire tax was the only statewide ballot proposition on the Wednesday meeting\u2019s agenda for endorsements. San Francisco\u2019s democratic party previously opposed the overpaid CEO tax leading up to the June 2026 election.<\/p>\n The campaign against Prop. 40 has amassed $150 million<\/a> \u2014 more than two-thirds of it funded by Google co-founder Sergey Brin.\u00a0<\/p>\n Prop 40 was put on the ballot by SEIU-United Healthcare Workers West and is backed by the California Labor Federation and Teamsters California. But other major groups including the California Teachers Association and State Building and Construction Trades Council oppose it.\u00a0<\/p>\n Gov. Gavin Newsom and gubernatorial candidate Xavier Becerra are also against it, as are a number of prominent industry and business groups. So is Mayor Daniel Lurie.\u00a0<\/p>\n The statewide party narrowly endorsed the billionaire tax earlier this month<\/a>. So have Sen. Bernie Sanders and Reps. Ro Khanna and Maxine Waters.<\/p>\n If voters approve Prop. 40 this November, it would create a one-time 5% tax on California residents with a net worth of more than $1 billion. Those who meet the criteria would have the option of paying the tax over five years<\/a>.\u00a0<\/p>\n