Tags: US | Marijuana | Taxes

Calif Rejects Legal Pot, but Cities Embrace Drug

OAKLAND, Calif. (AP) — Californians may have rejected legalizing recreational marijuana, but voters across the state are more than ready to reap revenue from the state's largest cash crop.

On Election Day, all 10 cities with local measures on their ballots approved new or higher taxes on marijuana sales that put the need for cash above the stigma of a federally banned drug.

The embrace of pot as a legitimate revenue stream signals the continued mainstreaming of marijuana in the state despite the defeat of Proposition 19.

Other cities that approved special marijuana taxes include some of the largest in the state.

Sacramento, San Jose, Long Beach and Oakland have all struggled with recession-driven deficits in recent years, and all have decided to look to marijuana to bridge the gap.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page
2Share
US
OAKLAND, Calif. (AP) — Californians may have rejected legalizing recreational marijuana, but voters across the state are more than ready to reap revenue from the state's largest cash crop.On Election Day, all 10 cities with local measures on their ballots approved new or...
US,Marijuana,Taxes
129
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved