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Posted by Deborah Montesano
On Sunday, Colorado’s top tax enforcer told CBS’s ’60 Minutes’ that the tax revenue from medical marijuana saved Denver from the recession. In the interview, former drug cop Matt Cook also pointed out that over a million square feet of space had been leased by the industry, providing work for a number of ancillary workers like electrical contractors.
Although medical marijuana was legalized in the state in 2000, the industry grew haphazardly. Cook helped change that by crafting a new law in 2010 that aimed to make medical marijuana a respectable business through regulation. In 2011, the state tax revenue on the substance amounted to $5 million. Sales tax revenue for both state and local governments stands to mushroom further after the November election if voters approve Amendment 24, the Regulate Marijuana Like Alcohol Act. That amendment would allow adults to cultivate and possess limited amounts of marijuana and would allow state and local governments to regulate its production and distribution.
An analysis by the Colorado Center On Law and Policy anticipates that the result of further legalization would not only produce huge revenue increases for governments, but would also provide vast savings in legal costs from no longer prosecuting marijuana cases, would increase excise taxes on wholesalers, the funds from which are committed to school construction, and would provide more construction jobs for the building of schools. The economic benefits would continuously ripple outward.
Colorado isn’t alone in trying to legitimate, and consequently benefit from, the industry. Oregon and Washington also have initiatives on their November ballots, with Oregon’s being the most extensive the nation has ever known. All of the state efforts could become moot, however, once a decision is rendered by the U.S. Court of Appeals on Americans for Safe Access v. Drug Enforcement Administration. Arguments on that lawsuit, which challenge the federal government’s classification of marijuana as a dangerous drug with no medical value, were heard on October 16th. A supplemental hearing was ordered on the 17th, but has not yet been held.
An outcome in favor of Americans for Safe Access would change the face of the nation, saving tremendous resources by no longer treating marijuana possession as a criminal issue. The overriding benefit would be the huge boost to the entire economy that would result. If marijuana can save Denver–and Oregon and Washington–why not let it save the nation?
I’d be delighted if you joined me on Facebook or checked out my blog.
On Sunday, Colorado’s top tax enforcer told CBS’s ’60 Minutes’ that the tax revenue from medical marijuana saved Denver from the recession. In the interview, former drug cop Matt Cook also pointed out that over a million square feet of space had been leased by the industry, providing work for a number of ancillary workers like electrical contractors.
Although medical marijuana was legalized in the state in 2000, the industry grew haphazardly. Cook helped change that by crafting a new law in 2010 that aimed to make medical marijuana a respectable business through regulation. In 2011, the state tax revenue on the substance amounted to $5 million. Sales tax revenue for both state and local governments stands to mushroom further after the November election if voters approve Amendment 24, the Regulate Marijuana Like Alcohol Act. That amendment would allow adults to cultivate and possess limited amounts of marijuana and would allow state and local governments to regulate its production and distribution.
An analysis by the Colorado Center On Law and Policy anticipates that the result of further legalization would not only produce huge revenue increases for governments, but would also provide vast savings in legal costs from no longer prosecuting marijuana cases, would increase excise taxes on wholesalers, the funds from which are committed to school construction, and would provide more construction jobs for the building of schools. The economic benefits would continuously ripple outward.
Colorado isn’t alone in trying to legitimate, and consequently benefit from, the industry. Oregon and Washington also have initiatives on their November ballots, with Oregon’s being the most extensive the nation has ever known. All of the state efforts could become moot, however, once a decision is rendered by the U.S. Court of Appeals on Americans for Safe Access v. Drug Enforcement Administration. Arguments on that lawsuit, which challenge the federal government’s classification of marijuana as a dangerous drug with no medical value, were heard on October 16th. A supplemental hearing was ordered on the 17th, but has not yet been held.
An outcome in favor of Americans for Safe Access would change the face of the nation, saving tremendous resources by no longer treating marijuana possession as a criminal issue. The overriding benefit would be the huge boost to the entire economy that would result. If marijuana can save Denver–and Oregon and Washington–why not let it save the nation?
I’d be delighted if you joined me on Facebook or checked out my blog.