**FOR IMMEDIATE RELEASE**

Contact: Luke Thibault, lthibault@ifpte21.org, 760-534-9958
Jennie Smith-Camejo, jennie.smith-camejo@seiu1021.org, 510-710-0201

(San Francisco, CA) “Stand Up for SF” is a broad coalition of San Francisco community groups and labor organizations who have submitted the “Overpaid CEO Act” to the San Francisco Registrar of Voters and City Attorney to protect local services and stand up for San Francisco against devastating federal cuts that threaten the vital city services our most vulnerable communities rely on. The coalition will begin collecting signatures in the next few weeks to place the Overpaid CEO Act on the June 2026 ballot.

Trump’s proposed cuts to Medicaid and other federal programs threaten to devastate our local budget and place enormous pressure on San Francisco’s public hospitals and clinics. 53% of patients at San Francisco’s public hospitals rely on Medicaid. 100% of in-home support services (IHSS) are funded by Medicaid, threatening current consumers, along with home and long-term care (LTC) services of choice for thousands of residents. These cuts would directly harm seniors and people with disabilities who depend on these life-sustaining programs. Medicaid dollars don’t just go towards traditional medical care; these federal funds support services for residents experiencing homelessness and addiction, as well as mental and behavioral health services. Mental health programs, emergency medical care, community health services, and countless other city services are all at risk of being cut. 

Supporters say that the tax on overpaid CEOs is San Francisco’s way to “Trump-proof” vital city services by ensuring major corporations pay their fair share:

“Seniors and community members with disabilities depend on the care we provide to live safely and with dignity,” said Julie Fisher, an in-home support services (IHSS) caregiver. “Our program is funded by Medicaid, and these cuts would devastate the people we care for. The Overpaid CEO Act is a way for us to push back against the Trump Administration and protect the well-being of the people we serve.” 

“Every day at San Francisco General, I see the consequences of disinvestment in public health,” said Jason Negron-Gonzalez, emergency department registered nurse at SF General Hospital. “Cuts to Medicaid and federal funding are pushing our already strained hospitals past the breaking point. The Overpaid CEO Act ensures that the wealthiest corporations contribute to their fair share so San Francisco can continue to be a place where everyone can thrive, regardless of economic status.”

The Overpaid CEO Act places a small surcharge on large corporations whose top executives earn more than 100 times the median salary of their workers. Only companies with at least 1,000 employees and more than $1,000,000,000 in revenue—truly the biggest corporations—whose CEOs make over one hundred times the median salary of their employees will pay this surcharge. 

• It will not raise any taxes on small businesses, homeowners, or working families.
• It is projected to generate over $200 million in general fund revenue annually. 
• Revenue from the Overpaid CEO Tax would go towards preserving critical local programs like mental health programs, public hospitals, and emergency response services, ensuring San Francisco remains a place where all families can thrive.

The growing coalition of organizations endorsing the Overpaid CEO Act include: SEIU Local 2015, SEIU Local 1021, IFPTE Local 21, AFSCME 3299, and Teamsters Joint Council 7, NUHW, SOMCAN (South of Market Community Action Network), SF Rising, Evolve CA, and the Chinese Progressive Association.