Your congressional race just got a hella expensive new tax idea

Okay so, big news coming out of the congressional race for San Francisco, specifically the one that covers pretty much all of us in the City. Candidate Saikat vs. Sergey, who's running for Congress, just dropped a cool half-million dollars of his own money into a new ballot initiative. This happened on Saturday, May 23, according to a city media release.

It's called the "Overpaid CEO tax," and if it passes, it'll hit companies whose top execs make way more than their average worker. We’re talking a tax on the disparity between CEO pay and median worker pay. Think about all those tech companies that moved in, gentrified everything, and then complain about the city they moved to — this is aimed straight at them.

Here's why this matters to you:

* **Who pays?** Companies with a huge gap between their CEO's salary and what their average worker earns.

* **How much?** Saikat vs. Sergey put $500,000 of his own cash behind getting this on the ballot. That’s a serious investment.

* **What's the goal?** To generate revenue for the city, ostensibly for public services, and address income inequality.

This isn't just some back-and-forth at City Hall; it's a direct shot at the corporate culture that many residents feel has changed San Francisco, not always for the better. Keep an eye on this as it moves toward the ballot, because it could seriously reshape how businesses operate here.

That's the City, fam — fog, hills, and all.

Vivian Leung, MiTL Sports Desk, San Francisco

Catch Keith and the crew breaking this down every morning, live at mornings.live.