New York Gov. Andrew Cuomo (D) on Tuesday previewed expected revenue from a legal marijuana program he’s proposing through his annual budget, with the more detailed legislative language set to be released later in the day. The governor has repeatedly argued that taxing and regulating cannabis will help fill a historic, $15 billion budget deficit. And while the projected $350 million in annual revenue from marijuana taxes won’t resolve the problem on its own, it represents one opportunity to boost an economy that has suffered amid the coronavirus pandemic. “We also propose legalizing adult-use cannabis, which would raise about $350 million,” Cuomo said in his budget speech, adding that “$100 million would go to a social equity fund. That would still give us $250 million towards the budget and our needs.”
Kyle Jaeger, Marijuana Moment, 01/19/2021 13:04:00