If Pennsylvania Legalizes Cannabis, State Would Garner over $200 Million in Annual Taxes
If Pennsylvania legalizes cannabis in a manner similar to Colorado, the state would garner over $200 million in new taxes every year.
This is according to the state’s Auditor General Eugene DePasquale, who held a press conference to discuss the financial benefits of legalization.
According to DePasquale, the $200 million projection is based on the $129 million a year Colorado is currently bringing in; DePasquale notes that Colorado has a population of less than half that of Pennsylvania.
“I wasn’t necessarily convinced Pennsylvania should be the first”, said DePasquale, “but now that we have actual results and data from other states, the evidence is clear that this can be both good socially and fiscally.”
The office of Governor Tom Wolf responded by stating their support for decriminalization, but making it clear they aren’t quite ready for full legalization:
“Governor Wolf has long supported the decriminalization of small amounts of marijuana to reduce the strain on our prison system and stop incarcerating so many people for nonviolent crimes like possession,” says Governor Wolf’s Spokesperson J.J. Abbott. “However, the governor wants further study of the impact and implementation of full legalization on other states like Colorado before proceeding with that approach in Pennsylvania.”