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Legalising Marijuana In Texas Would Generate Billions In Tax Revenue

by : Niamh Shackleton on :
Legalising Marijuana In Texas Would Generate Billions In Tax RevenuePexels/PA

Marijuana isn’t the only green thing that could increase in Texas if the state was to legalise the drug – it could also rake in billions of dollars every year.

A report released on Monday, October 19, said the state could make ‘hundreds of millions of dollars in new tax revenue’ if they were to legalise marijuana, as well as creating an additional 40,000 jobs.

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Shawn Hauser, a partner at cannabis law firm Vicente Sederberg, which produced the report, spoke of the benefits of making cannabis more readily available. He said, ‘Hundreds of millions of dollars in new tax revenue and tens of thousands of new jobs would be especially helpful in overcoming the losses stemming from the COVID-19 pandemic.’

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He added that the state is ‘leaving an enormous amount of money on the table’ by continuing to keep cannabis illegal.

Around 1.5 million Texas residents over the age of 21 are thought to use the drug on a monthly basis, reported the Dallas Observer, meaning – from this figure – that on estimated the state could generate a whopping $2.7 billion per year in marijuana sales.

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Dwight Clark, a senior policy analyst at Vicente Sederberg, also noted the benefits legalising the drug would have on the legal system, as police could ‘focus on more pressing matters’.

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Sederberg said, ‘If cannabis were regulated, the revenue from license fees and taxes would easily cover the costs of administrating the system and enforcing regulations. Criminal justice resources could then be redirected toward other, more pressing matters.’

Sounds like Texans really could be living the high life if cannabis was legalised.

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Niamh Shackleton

Niamh Shackleton is a pint sized person and journalist at UNILAD. After studying Multimedia Journalism at the University of Salford, she did a year at Caters News Agency as a features writer in Birmingham before deciding that Manchester is (arguably) one of the best places in the world, and therefore moved back up north. She's also UNILAD's unofficial crazy animal lady.

Topics: Life, Cannabis, jobs, Marijuana, Now, Texas, Weed

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Dallas Observer
  1. Dallas Observer

    Legalizing Weed Would Make Texas $500 Million a Year in Tax Revenue, New Report Says