SAN FRANCISCO—Facing a backlash from the business community, city officials here have tabled until next year a proposed ballot measure to raise a tax on stock compensation to address concerns over wealth disparity. Under the initial proposal announced in May, a measure would have been placed on the Nov. 5 ballot to nearly quadruple the levy on corporations for stock-based compensation to 1.5% from the current rate of 0.38%—restoring the rate to a 2011 level before the city cut it to help recover from the recession.

Source: Wall Street Journal July 17, 2019 22:07 UTC