Wed July 30, 2014
Estimates Differ On How Much Tax Revenue Oregon's Marijuana Initiative Would Raise
Oregon’s legalized marijuana campaign says pot would generate about $39 million in tax revenue in its first year. Legislative revenue experts disagree.
They say the money would be well below that, at just over $9 million.
One of the selling points of legalizing marijuana is that it can generate new tax revenue for state services. That argument was made in this ad from the 2012 campaign in Washington state.
It’s early in Washington, but supply shortages have limited marijuana tax revenue during the first weeks of legal sales. Colorado’s expectation of $70 million in the first year has now been cut in half.
Anthony Johnson, the chief petitioner of Oregon's pot initiative, is not phased.
"No matter which economic analysis you consider, it's clear that this will be a revenue generator for the state,” he said.
With Initiative 53 going before voters this fall, Johnson said the Oregon legalization campaign will likely use a range of figures in its ads instead of focusing on a specific amount.
The money raised by taxing pot in Oregon would be divvied up among schools, law enforcement and drug treatment programs.