Pennsylvania Could Make $500 Million in Tax Revenue from Marijuana

Many people believe Pennsylvania could be a possible target for recreational marijuana legalization after the state began allowing medical marijuana in 2016. And now a new analysis says that it could be quite profitable for the state to do so.

Pennsylvania Auditor General Eugene DePasquale released a new analysis that predicted that the state would generate around $500 million in tax revenue if it legalized recreational marijuana, assuming a tax rate around 35 percent. The analysis estimated that around 800,000 people in Pennsylvania use marijuana, and used statistics from other legalized states that estimates marijuana users spend about $2,100 per year on cannabis to reach his conclusion.

DePasquale has actually advocated legalizing recreational marijuana for months, but obviously he won't have much say over the matter. Meanwhile Pennsylvania Governor Tom Wolf is more of a question mark on cannabis. In the past he's said he doesn't believe the state should legalize recreational marijuana, but he's also vehemently defended and supported the state's medical cannabis program and has even harshly condemned Attorney General Jeff Sessions for possibly targeting the industry.

So it's possible in a few years we'll be able to add Pennsylvania to the list of legalized states, at least if DePasquale gets his way.

(h/t ABC 6)

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