THE FREEST STATE (BUT NOT FOR CANNABIS)
Why is Florida Gov. DeSantis against legalization? Because of the ‘stench’
He says Florida is the freest state, but among the list of freedoms he’s against – including women’s reproductive rights and LGBTQ rights – Gov. DeSantis is also against cannabis, reports Florida Politics.
“What I don’t like about it is if you go to some of these places that have [legalized], the stench when you’re out there, I mean, it smells so putrid,” he said.
What’s at stake:
- Agriculture Commissioner Nikki Fried, U.S. Rep. Charlie Crist and state Sen. Annette Taddeo are campaigning to usurp DeSantis in 2022
- All three Democrats have committed to legalizing adult-use cannabis in the state
- According to Headset, the Florida cannabis market could be worth as much as $3.2 billion if adult-use reform was implemented
- Medical sales reached an estimated $1.3 billion in 2021
- A 2019 University of Florida poll showed most Floridians support legalization
The takeaway
While DeSantis has a good shot at winning so far, there’s plenty of time for debate and screw-ups. The election is scheduled for Nov. 8, 2022.
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MORE HARM THAN GOOD?
In some cases, cannabis social equity efforts have done more harm than good
California’s cannabis legalization laws were designed to help the communities that were most harmed by the war on drugs through equity licensing. But for many of those who are eligible, it’s been an expensive, bureaucratic nightmare, reports the LA Times.
The barriers include:
- The high cost of lawyers and consultants required to navigate compliance
- Varying licensing requirements from city to city that sometimes favour already established cannabis companies
- The requirement to secure commercial space before applying for a licence, which was so slow, some refinanced personal assets to stay in the game
- Renewed efforts to assist equity applicants have been dogged by the thriving illicit market, lack of regulation and other issues
The takeaway
“…a process intended to atone for past wrongs has, for many, made their lives distinctly harder, shattering their stability, wiping out their life savings and jeopardizing homes and property.”
???? TAX ????
High cannabis taxes no cause for celebration: opinion
The recent news that Massachusetts cannabis tax revenues exceeded alcohol’s in 2021 isn’t a good sign for the industry, argues Chris Roberts in Forbes. Americans aren’t drinking less. Instead, cannabis tax rates are far too high in most jurisdictions.
By the numbers
- Nearly eight times as many Americans binge drink vs. smoke weed once a month
- In Massachusetts, the cannabis excise tax is 10.75%; Alcohol runs between a few cents to a few bucks, depending on the type
- Washington state cannabis tax revenues were $473.9 million in 2020 — “$229.4 million more than that of liquor,” according to the state treasurer
- In California, $405 million came in through booze taxes in 2020-21, while cannabis taxes brought in a staggering $1 billion
The takeaway
“The idea that marijuana legalization is leading Americans to drink less sounds nice, but simply isn’t borne out by data,” writes Roberts. Instead, cannabis tax rates are far too high — and could hurt business.
