Genius city, facing down a possible pandemic-driven recession, passes special interest initiative that city economist says will reduce the GDP by $23 billion dollars.https://twitter.com/sfchronicle/status/1235074434656067584 …
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When the hole out of which SF must pay for its schools (currently facing layoffs) and its larger expected $400M+ deficit this year grows deeper, don’t forget who endorsed it.pic.twitter.com/nj55IlHNiv
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Replying to @kimmaicutler
So disappointed in your position on E
@MattHaneySF. When my daughter’s public school is forced to cut services and increase class size, will you have a solution for our budget shortfall?3 replies 0 retweets 17 likes -
Replying to @brezina @kimmaicutler
Sorry we have a difference of opinion on this one. I think on balance it’s a good thing and looks like SF voters agreed. But so I understand, what does Prop E have to do with public school funding?
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Replying to @MattHaneySF @brezina
It doesn’t actually increase affordable housing funding, and incentivizes offices to go to the suburbs where they’ll take their business tax revenue and worsen regional traffic.
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From the quoted article at the top of the thread: "Prop. E would hurt the city’s economy, according to the city’s chief economist, who forecast personal income dropping 5.9% by 2040 and the city’s job base shrinking 7.9%, equal to 91,000 fewer jobs, if the measure passes."
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Replying to @peternocturnal @kimmaicutler and
I assume that translates to less tax revenue coming into the city budget, hurting schools, among other things.
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SF schools are funded overwhelmingly by the state, with some support from parcel taxes and sales taxes, not the city general fund.
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Replying to @MattHaneySF @peternocturnal and
Most cities don’t raid ERAF funds like SF does. Matt, why did the $90 million in ERAF funds for
@sfunified that was originally proposed yesterday get whittled down???

Want to weigh in on this with Matt, @stevoncook, since you were part of the backroom deal?2 replies 0 retweets 3 likes -
Replying to @BluebirdRave @MattHaneySF and
Matt was in the room pushing for a larger portion of ERAF last year. He led on the issue, I was there. I believe we can count on him to lead again this year as he pushes for other critical city priorities.
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The point is — will there be an ERAF and how big will it be if there’s a recession this year?
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Replying to @kimmaicutler @stevoncook and
There will be an ERAF this year.
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