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5 min read San Francisco Budget and Appropriations Committee

SF two-year deficit drops to $642.8M (+ federal cuts loom)

San Francisco Budget and Appropriations Committee: SF's two-year deficit projected at $642.8M, a nearly $300M improvement from December, with H.R. 1 driving ~$306M of the shortfall.
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San Francisco 
Budget and Appropriations Committee Meeting
April 8, 2026

TL;DR

  • SF's two-year budget deficit is now projected at $642.8M, a nearly $300M improvement from the December update.
  • H.R. 1 is assumed to drive about $306M of the deficit; the city set aside roughly $400M last year as a one-time reserve for federal shocks.
  • Year-one shortfall is $168.5M; year four grows to just over $1 billion, with baselines rising to $1.65 billion by FY2030.
  • The People's Budget Coalition told supervisors that 60% of proposed CBO cuts would impact immigrants, with about 20% cuts to programs serving Filipino, Pacific Islander, and transgender communities.
  • The hearing was heard and filed; the June budget will determine what gets cut, preserved, or backfilled.

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