There’s a gaping budget hole caused by an economy in tatters.
There’s growing voter support and some assurance that the issue is no longer political poison. And there are tax windfalls, potentially huge revenues to be gleaned, if a bill can win bipartisan support in Harrisburg.
For those reasons, some Republican lawmakers in Pennsylvania are coming around — if slowly — to the idea of legalizing marijuana for adult recreational use.
The reasons are not hard to discern.
Since the start of the coronavirus pandemic, the state has lost almost $4 billion in tax revenue. That gap is only growing bigger. The Independent Fiscal Office last month warned taxpayers to be prepared for a “significant reduction” in essential services.
Meanwhile, states with legalized recreational marijuana are reaping major tax revenues.
Illinois, with a population similar in size to Pennsylvania’s, has raked in more than $10 million a month in taxes and fees since it legalized weed for adult use in January. Last year, Nevada collected $99 million; Oregon, $102 million; Colorado, $302 million; Washington state, $390 million; and California, $635 million.
And with New York, New Jersey, and Maryland also considering legalizing marijuana for recreational use, the Keystone State risks losing cannabis sales to its neighbors. [Read more at The Philadelphia Inquirer]
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