skip to Main Content
VA Republican Gubernatorial Candidate wrongly claims ‘every single state’ has earned disappointing cannabis revenue

On July 1, marijuana possession became legal in Virginia, with government-regulated commercial sales of cannabis due to begin exactly three years later. It’s fair to say that Glenn Youngkin, the Republican nominee for governor, is not a fan of marijuana — he says he’s never known a habitual user to succeed in life — but his campaign recently denied a claim by Democratic rival Terry McAuliffe that he would seek to repeal legalization if he was elected governor. His campaign said that the former equity investor’s beef is that tax revenue projections “are way overstated, as they have shown to be in other states.”

Is that really the case? Youngkin’s quotes on the matter are from earlier this year, but they are still relevant in light of the recent dispute between the campaigns.

The Facts

In one set of remarks, Youngkin specifically mentioned three states — California, Oregon and Colorado — and in the other remarks Youngkin declared that “every single state” has fallen short on revenue projections. That’s a line that was echoed by his campaign.

Part of the problem with sweeping statements like this is that legalized marijuana has slowly gathered steam across the country. The first states that imposed taxes had less experience than the states that followed, which could apply the lessons learned. There is a fine balance between raising taxes high enough to generate substantial revenue but low enough so the already thriving illegal market is basically put out of business by the state competition. [Read More @ The Washington Post]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Stories

MLK Day: Cannabis and Civil Rights

Vince Sliwoski, Attorney at Harris Bricken Happy MLK Day! If Martin Luther King Jr. were alive today, he would almost certainly advocate to end the War on Drugs. Dr. King never spoke publicly about drugs or cannabis in particular: he was assassinated in 1968, two years before President Nixon signed the Controlled Substances Act (CSA).…

Will the SAFE Act Solve the Banking Issue for Cannabis Businesses?

While the SAFE Banking Act continues its seemingly never-ending rise and fall through the halls of Congress, it’s important to take a step back and ask what would actually be accomplished if the bill were to pass.  Would this mean that any legitimate cannabis business can walk into any bank and conduct business as usual?…

US Senate candidate from Louisiana smokes marijuana in new campaign ad

A US Senate candidate in Louisiana released a campaign ad Tuesday in which he smokes marijuana in an attempt to spark what he calls “a new conversation” around the drug. Gary Chambers Jr., a Democrat and social justice activist, is shown in the ad sitting in a chair and taking puffs from a rolled marijuana blunt.…

Ex-president Fox’s chain of cannabis stores plans to open 130 more this year

Paradise’s focus is on the growing market for CBD products A chain of cannabis stores part owned by former president Vicente Fox is pursuing an aggressive expansion strategy: it intends to open 130 additional outlets by the end of the year. Paradise, which sells products such as CBD (cannabidiol) oil, hemp oil, bongs, pipes, marijuana…

More Categories

Back To Top
×Close search