Report: Federal Marijuana Legalization Would Create $86 Billion in New Tax Revenue by 2025

New Frontier Data, which claims to be “the authority in data analytics and business intelligence on the global cannabis industry”, today announced new economic data detailing the potential impact of federal cannabis legalization in the United States.

The federal legalization of medical and adult-use cannabis would create $86 billion in additional U.S. tax revenue between 2019 and 2025 and a $56 billion annual U.S. cannabis market by 2025, states the report. The New Frontier Data State of the Cannabis Union 2019 is now available for free download at the following link: https://newfrontierdata.com/SOTCU.

These findings, as well as comments by Congressman Earl Blumenauer (D-Ore.) and Congressman Lou Correa (D-Calif.) and insights from the world’s first cannabis testing lab Steep Hill and Top 10 U.S. tax firm CohnReznick, were presented during a briefing hosted by New Frontier Data in collaboration with The Liaison Group, a federal advocacy group working with federal lawmakers towards a safe and thriving cannabis economy.

Read moreReport: Federal Marijuana Legalization Would Create $86 Billion in New Tax Revenue by 2025

Legalizing Marijuana in U.S. Could Generate $106 Billion in Taxes, Create 1 Million New Jobs by 2025

According to a new report by New Frontier Data, titled Cannabis In the U.S. Economy: Jobs, Growth and Tax Revenue2018 Edition, the U.S. could generate billions of dollars and a lot of new jobs if they legalize marijuana.

The report, released today, “examines what full adult use legalization of cannabis could generate in federal tax revenue and jobs for the United States economy after implementation of the 2018 Tax Cuts and Jobs Act.” New Frontier Data forecasts that under full federal legalization cannabis has the potential to create cumulatively $105.6 billion in federal tax revenue and 1 million new jobs by 2025.

“New Frontier Data projects increased domestic and international expansion of new legal cannabis markets and $106 billion in tax revenue over an eight-year period in the U.S.,” says New Frontier Data CEO Giadha Aguirre De Carcer.

Read moreLegalizing Marijuana in U.S. Could Generate $106 Billion in Taxes, Create 1 Million New Jobs by 2025

95% of U.S. Population Lives in a State with Access to Some Form of Legal Marijuana

95% of the U.S. population currently lives in a state with some form of legal access to marijuana, yet the substance remains illegal on the federal level for all uses.

“While the cannabis industry has been anxious to gain more clarity into how President Trump’s Administration is going to treat the legal cannabis market in the U.S., it has also provided the opportunity for rigorous debate on the issue”, says Giadha Aguirre De Carcer, CEO of New Frontier Data, a data-collection agency which recently released a report on legal marijuana.

“This data highlights the complexity of this debate and the number of Americans that would be impacted by the outcomes of this policy debate,” De Carcer added.

Below are some of the findings of New Frontier’s report:

Read more95% of U.S. Population Lives in a State with Access to Some Form of Legal Marijuana