San Francisco companies would pay up to a 0.6% excise tax to fund mental health services under a universal mental health program under an initiative proposed for this fall.

The Excessive CEO Salary Tax was backed June 11 by six city supervisors, targeting for the November ballot companies whose CEOs make 100 times more than their median wage-earning workers. The surcharge starts at 0.1%, would rise to 0.2% when a CEO earns 200 times more than the company’s median salary, 0.3% at 300 times, 0.4% at 400 times, 0.5% at 500, and cap at 0.6% at 600 or more times...