Connect with us

Hi, what are you looking for?

World

New York governor delivers marijuana legalization plan

Cuomo has done an 180-degree about-face with his position on marijuana. He called marijuana a “gateway drug” as recently as February 2017. However, his changing attitude also reflects on the open-mindedness Cuomo has shown in response to changing public attitudes on the use of cannabis.

This change in attitude was reflected in a speech he made last month at the New York State Bar Association in Manhattan, where he outlined his legislative priorities for his first 100 days of his new term in office.

A milestone in the push toward full legalization
Many experts are saying that Cuomo’s plan to legalize marijuana for adults over the age of 21 is “a milestone in the push toward full legalization of the substance in the U.S.,” according to Market Watch.


“Legalize adult-use cannabis,” Cuomo said in his State of the State speech. “Stop the disproportionate impact on communities of color and let’s create an industry that empowers the poor communities that paid the price and not the rich corporations who come in to make a profit.”

The governor plans to create a legal industry that would include women and minority-owned businesses and create jobs in some of the economically deprived regions of the state. At this time, 10 states have legalized marijuana for recreational use and 33 states have legalized medical cannabis.

Cannabis News suggests the governor is attempting to avoid domination of the industry by big corporations, and this is evident in his budget proposal where producers will not be allowed to own retail shops. The plan also calls for the state to limit the number of both producers and retailers “to guard against a market collapse, encourage equity through craft growers and cooperatives.”

The plan will create jobs
Cuomo is expecting this new business will eventually generate about $300 million in annual tax revenues, although counties will be given the option of opting out of legal sales. To accomplish this, Cuomo has proposed the setup of three new proposed taxes and called on the legislature to pass his Cannabis Regulation and Taxation Act.

A new Office of Cannabis Management will be created that will oversee all aspects of cannabis, including hemp, recreational, and medical marijuana. The office will also set up a “three-tier” system of licensing whereby producer, distributor and retailer licenses will be issued, similar to most states’ alcohol systems.

The three taxes on cannabis would all occur before any retail sales and include: 1) $1 per dry weight gram of cannabis flower and $0.25 per dry weight gram of cannabis trim when the cannabis crop is cultivated 2) The sale by wholesaler to a retail dispensary is taxed at 20% 3) An additional tax at the wholesale level of 2% that is given to the county where the retailer is located.
According to Governor Cuomo’s budget document, tax dollars realized from the marijuana industry would go for “administration of the regulated cannabis program, data gathering, monitoring and reporting, the governor’s traffic safety committee, small business development and loans, substance abuse, harm reduction, and mental health treatment and prevention, public health education and intervention, research on cannabis uses and applications, program evaluation and improvements.”

“We are in control,” Cuomo told the theater full of Democratic lawmakers and other politicos at The Egg Center for the Performing Arts. “There is no one else.” He urged lawmakers to push quickly on legalization and other priorities.

Avatar photo
Written By

We are deeply saddened to announce the passing of our dear friend Karen Graham, who served as Editor-at-Large at Digital Journal. She was 78 years old. Karen's view of what is happening in our world was colored by her love of history and how the past influences events taking place today. Her belief in humankind's part in the care of the planet and our environment has led her to focus on the need for action in dealing with climate change. It was said by Geoffrey C. Ward, "Journalism is merely history's first draft." Everyone who writes about what is happening today is indeed, writing a small part of our history.

You may also like:

Business

United Airlines CEO Scott Kirby said the carrier was reviewing recent incidents and would redouble safety initiatives as needed - Copyright AFP Logan CyrusUnited...

World

US President Joe Biden speaks during a reception honoring Women's History Month at the White House - Copyright AFP Brendan SMIALOWSKIDanny KEMPUS President Joe...

Business

A Milei marks 100 days in office, thousands protest his austerity measures - Copyright AFP Luis ROBAYOLeila MACORArgentina’s President Javier Milei has slashed public...

Life

The Michelin Guide unveiled its annual list of the best French restaurants, praising the "cultural dynamism" of a new generation of chefs.