The time for cannabis legalization is now…

State and local governments are in a crunch because of the coronavirus. The reality is that folks have lost their jobs, businesses are closing, and there’s less money going into cash registers.

That means less tax revenue for state and local governments.

New York, for example, anticipates a revenue drop of up to $7 billion compared to what it was previously expecting. With less money in the budget, there would be less money for infrastructure improvements and school funding.

There’s no easy solution for making up for that lost revenue.

But we do know this.

With the legalization of cannabis, states could generate millions and even billions of dollars…

Legalizing Cannabis After the Coronavirus

With the coronavirus putting New York to a halt, cannabis legalization will likely not make it into the April budget plan, which was being approved today.

But recreational legalization for the state could still happen in 2020.

Check out even more legalization coverage from The Institute in our Politics & Legalization archives.

And the tax revenue could help offset some of the economic fallout of COVID-19.

“If Colorado can raise +$300 million from recreational and medical marijuana sales in a year, New York can certainly earn over $1 billion as long as the state taxes and regulates adult-use sales reasonably,” says DataTrek Research‘s Jessica Rabe.

It’s not just in New York where cannabis tax revenue could help, either.

There are legalization efforts across the entire country, from Arizona to Virginia.

Next Steps

It’s time to fast forward to where we all know this is heading.

People who are of age and following the law should be able to buy cannabis.

Entrepreneurs working in the space should be able to open bank accounts and take out loans.

Each state and local government should be able to tax recreational cannabis reasonably and use the money to build new classrooms, fix our roads and bridges, and set some money aside for an emergency fund.

The time for legalization is now.

And once it happens, Wall Street is going to go all-in on cannabis. But you could see potential profits of 626% or more if you claim your stake today.

Find out how you can capitalize on what we expect to be an unprecedented infusion of cash into the cannabis market right here.

Take care,


Comments

12 responses to “COVID-19 Is Making a Case for Full Cannabis Legalization”

  1. Good afternoon to the sponsors at the Institute how are you, I hope everyone is practicing social distancing. I hope you and your family are staying healthy and safe. Now with that said it has been quite some sometime since I made a response to any comments for an array of reasons. But your comments today I found interesting in that I was having the same conversation with some of my students. I agree I believe this is going to force more states to go all in on the positive things that legalizing cannabis will do for their states. Combine that with the massive debt debt that is being accumulated with this Corona virus at all Government levels. The trillion and trillion of dollars that is being spent is going to have to be repaid. If you have been around long enough, we know who will be paying it back!!!! With that said there aren’t to many things that I know of that could be implemented that will infuse the kind of cash that will put a dent into that debt than legalizing Cannabis on a Federal level. You can best believe it is being contemplated, and it wouldn’t surprise me if that is part of a economic stimulus package!!! Then again what do I know, some might say not much. At either rate I guess we will just wait and see!!!!

    • Legalization is cost effective and safe it is better then imprisoning peaceful groups of people and building expensive
      prison’s

  2. I agree plus if its Illegal would stop the black market in it and nock the bottom out of it along with the taxes it would collect is a win ning deal

  3. I have a question is NICI doing anything for it’s membership in furthering to facilitate future legalization ?

  4. It’s about time !!! Legalizing weed, would solve a lot of problems, and undercut the black market, because know this people are going to use Pot, whether, it’s legal or not !!!!

  5. The Senate leader Mitch has to release the schedule 1 designation on marijuana. This natural plant can do a lot of good. The CBD oil is tremendous.

  6. I am all for total legalization of marijuana, both medicinal AND recreational. CBD has caught on, even by Republicans. Now it’s finally time to legalize all forms of Marijuana.
    The federal tax revenue would be enormous, even if it would be a low percentage rate. Research what states are taxing marijuana and use that as a guide. Don’t overdo it! Engineers have a saying,“Keep it simple stupid, (KISS)!”

  7. I totally agree with full legalization but do not use it. I think it’s much better than alcohol or other drugs. The black market sprinkles other things over it to get people hooked on them so they can sell harder drugs to them.

  8. CBD should be promoted as a way to improve our body immunity directly or indirectly by making people more relaxed and calm.

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