Legal recreational marijuana has left substantial tax revenues in the U.S.
Written by Redacción Mota Radio on 12 January, 2022
Recreational marijuana continues to bring in substantial revenues in the United States. According to a report, published by the Marijuana Policy Project (MPP), those states in the North American country that have legalized cannabis have collectively collected more than $10 billion in tax revenues, from adult-use marijuana, since the first legal sales began in 2014.
“States that have legalized adult-use cannabis are reaping significant economic benefits. The legal adult-use cannabis industry has already generated more than $10 billion in new tax revenue, and in many cases that revenue is being distributed to much-needed public services and programs, including reinvestment in communities that were devastated by the war on drugs,” said Karen O’Keefe, MPP’s state policy director.
“This is in stark contrast to prohibition, which costs taxpayers billions of dollars each year to enforce,” she noted.
There is no doubt that the recreational cannabis legalization movement that began in Colorado and Washington state over the years has been spreading across the U.S., with 18 states lifting prohibition and most taxing and regulating marijuana sales, Marijuana Moment reported.
According to the report, specifically through December 2021, marijuana sales have translated into some $10.4 billion in tax revenue for states that now use those dollars to fund various programs and initiatives.
Notably, that figure does not even include tax revenues from the separate medical cannabis programs that are in place in most U.S. states.