Napa Valley Register: Congress Must Address Marijuana Banking Issue

According to tax data compiled by the Institute on Taxation and Economic Policy, tax revenues in 2018 derived from state-sanctioned recreational sales surpassed $1 billion – a 57 percent increase over 2017 levels. Annual excise tax revenues on adult-use cannabis sales ($1.04 billion) rivaled those for all forms of alcohol ($1.16 billion). Here in California, retail cannabis sales in generated an estimated $300 million in tax revenues. Read more