Mission Local

San Francisco Supervisor Jackie Fielder will introduce a ballot measure on Tuesday that would tax financial institutions to create a municipal public bank, the first of its kind in the country. Fielder’s measure would raise $40 million to $50 million annually for the city’s Public Bank Fund until 2035; the measure would need the support of at least three other supervisors to make it onto the ballot; Once on the ballot, the measure would need to be approved by two-thirds of San Franciscans.

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