A recent study of the potential fiscal impacts of legalizing marijuana in Michigan found that passage of Prop 1 would generate over half a billion dollars in additional revenue for the state in the first five years of implementation. Read local coverage of the analysis here.
Much of the revenue generated from marijuana would be directed to Michigan’s roads, schools, and local communities, which are currently underfunded.
The report, conducted by marijuana policy consulting firm VS Strategies, made predictions based on a model that drew upon analysis of multiple data sources. By 2023, the study predicts that total annual marijuana sales will exceed $800 million in Michigan. Read the detailed findings of the analysis here.
Election Day is just over a month away, and voters will soon be receiving absentee ballots. There’s not much time left, and the YES on 1 campaign needs your help to ensure the measure passes. Chip in with a contribution today to help them dispel the fear tactics and propaganda of their prohibitionist opponents.
The post Analysis: Michigan legalization measure would generate $520 million in new tax revenue over five years appeared first on MPP Blog.