Study Says Federal Legalization Would Create Revenue Windfall
If cannabis were legalized on a national level, the U.S. would see the creation of more than 1 million new jobs and around $132 billion in federal tax revenue over the next eight years.
That is the conclusion of a recent study from New Frontier Data, a cannabis industry research group.
“If cannabis businesses were legalized tomorrow and taxed as normal businesses with a standard 35 percent tax rate, cannabis businesses would infuse the U.S. economy with an additional $12.6 billion this year,” the company’s CEO Giadha Aguirre De Carcer told the Washington Post.
The firm said 782,000 new jobs would be created immediately. Another 1.1 million would follow by 2025.
Not a bad bargain.