Red, White, and Cali Green
California voters face an important decision in this upcoming November ballot, about making marijuana legal for recreation use.
Prop 64, also known as the Adult Use of Marijuana Act, will let Californians decide whether to allow individuals 21 years or older possess up to 28.5 grams of marijuana for legal use.
The National Organization for the Reform of Marijuana Laws says four states: Colorado, Washington, Alaska and Oregon, have legalized the use of recreational marijuana without any major problems, while other states have legalized it for medical use.
The initiative would create a 15% excise tax on the retail price of recreational marijuana. “The government of California would rake in a substantial amount of revenue from that,” said CSUN economics professor Dennis Halcoussis. The projected revenue from legalization is expected to exceed $1 billion.
Marijuana retailers also expect to make money from the new law. “I think [business] is going to be even better,” said Garden Secrets Medical Marijuana Dispensary owner Tommy Amady.
According to the Los Angeles Times, the revenue that will come from taxes will be used for substance abuse education and treatment programs, environmental improvement, and more.
“Our biggest win, that I think is unprecedented compared to all the others states, is we have a $50 million reinvestment fund that will go to communities previously harmed by the War on Drugs,” said Campaign Program Associate for Californians for Responsible Marijuana Reform, Leslie Otañez.
Voters will have their opportunity to cast their vote on November 8, and decide whether they are ready for a change in the marijuana industry.
Moderator: Thomas Gallegos
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