By The Fresh Toast‘s Brendan Bures, provided exclusively to Benzinga Cannabis.
“I’ve seen some really large numbers in terms of the amount of cash flow that would come into the government as a result of just a normal excise tax regime.”
State lawmakers have proposed marijuana legalization as a needed economic injection following the coronavirus pandemic. Should states continue to legalize, one top cannabis executive believes the feds will soon be forced to end prohibition nationwide within the next couple years.
“My assumption is that 2022, for me, is the magic number,” Canopy Growth (NYSE: CGC) CEO David Klein told CNBC’s Jim Kramer. “I think, as you watch more and more states move to legalization for medical or rec, you really bring in almost two more senators each time who are really going to feel compelled to not make criminals out of the people in their state who are doing what’s legal in their particular state.”
Kramer had asked Klein whether state and local governments will leverage cannabis to uplift slashed budgets and down economies. New Mexico Gov. Michelle Lujan Grisham expressed regret in April the state had not legalized cannabis before the coronavirus hit the United States. She later added that marijuana would likely have funded programs the state cut due to the pandemic.
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Pennsylvania and New York lawmakers have also suggested marijuana as a…
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