Colorado House Approves Recreational Marijuana Taxes
According to the Associated Press, Colorado’s full House of Representatives just voted, 37-27, to approve a pair of taxes that would be added to recreational marijuana sales. The tax rates, which have been a heated subject in recent days, would include a 15 percent excise tax that would be used to fund school construction. In addition to the 15% excise tax, a standard 10% sales tax was also approved, which would pay for the regulation and enforcement of the new marijuana market.
The measure now moves to the Senate, where its passage would send it to the governor. If it passes through both of these obstacles – which it’s expected to do – the taxes would be put to a vote of the people before becoming law. Some lawmakers are beginning to plan a repeal of Amendment 64 if voters don’t approve the new tax.
The vote came along party-lines, with Democrats being in support of the taxes. Republicans believe that the taxes are too high, and will be rejected by voters.