College-bound students in Pueblo, Colorado will have access to almost $2 million in additional scholarship funds, thanks to marijuana.
Sixty percent of voters in Pueblo approved a measure in November that added an additional five percent excise tax on Colorado’s marijuana suppliers, and each year 50 percent of the tax’s proceeds will be set aside for college scholarships. Starting in 2017, the pot tax will gradually phase in until it reaches 5 percent, about $3.5 million, in 2020.
Pundits and journalists alike have reported controversy on the issue. They suggest the pot-funded scholarship is a dangerous contradiction: How can schools prevent marijuana abuse if it is the same drug’s sales that fund students’ higher education prospects?
But to a large extent, marijuana growers, legislators, and Pueblo residents seem to be supportive of the scholarship tax. [Read more at the Christian Science Monitor]
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