Amidst coronavirus, some states are looking for creative ideas to balance budgets. Marijuana won't provide that.
As many leaders nationwide are looking for ways to help mitigate the economic harms this virus has brought upon us, one industry claims it has an easy fix to shore up immense budget shortfalls: marijuana.They must be smoking something.sent a letter
If California were its own sovereign nation, it would boast the world's sixth largest economy. As it stands, the Golden State is staring down a $54 billion deficit that Governor Gavin Newsom has stated is directly a result of the novel coronavirus pandemic. This deficit represents nearly 40 percent of the state's entire $147.8 billion general fund budget, of which marijuana tax revenues account for less than half of one percent.
Surprisingly, Colorado is the only state in the nation without a rainy day fund, but here's what isn't all that surprising: marijuana tax revenues account for less than one percent of Colorado's overall budget.
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