June 13, 2019

KEYE TV: Colorado made $1B in marijuana tax revenue: What could this mean for federal legalization?

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Tax experts explained that government revenue from cannabis is not a panacea for solving the country’s budget issues, but it could certainly help.

According to a study by Carl Davis, the research director at the Institute on Taxation and Economic Policy, a federal push to legalize marijuana and regulate commercial sales could potentially generate nearly $12 billion per year in state and local revenue.

“It’s a meaningful amount of revenue,” he said Thursday. “But you can’t balance the budget based on cannabis taxes alone.” Read more