Amendment 64 Revenue Likely Not Enough for Regulation

A report released two weeks ago by the Colorado Future’s Center, a public policy research entity of Colorado State University, concludes that a 15% excise tax on recreational marijuana is not likely to provide $40 million in funding for school construction and that other revenues from recreational marijuana sales may not cover the cost of regulating the industry. Both of these conclusions, if true, suggest that Coloradans may not have been told the truth before voting to legalize recreational marijuana.

The report’s decidedly less than optimistic tone is in contrast to information from the Campaign to Regulate Marijuana Like Alcohol and a similar report (released just before the election) by the Colorado Center on Law and Policy (CCLP). CCLP’s report also estimated that the 15% excise tax would raise less than the $40 million that was suggested would be raised for school construction but, throughout, their report chose to reinforce any potential benefits of the legalization over the discrepancies between what will likely happen versus what Coloradans were being told.

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