Looks like it’ll soon be possible to go Colorado and get higher than the Rockies. This is due to the citizens’ vote to pass Amendment 64 in the past November elections. To keep it simple, Marijuana possession would be legal for recreational use by adults over 21, making Colorado the first state to end marijuana prohibition in the United States. Is it too good to be true? What does this mean? Questions putting us all in that Colorado state of mind.
The passing of Amendment 64 would create a fully regulated system of growing and selling the plant, eliminating the underground marijuana market. It would be taxed and regulated, just as you would alcohol or tobacco. Colorado’s annual tax revenue could generate up to as much as $22 million!
Don’t book yourself a flight quite yet.
It is still unknown if the federal government will pass and accept this amendment, allowing a regulated marijuana market to take shape. The decision could take from several months to up to a year. There are many members of the U.S Drug Enforcement Agency urging members of government to take a stand against marijuana legalization. It is rumored that states that legalize marijuana for recreational use would “trigger a ‘Constitutional showdown’ with the federal government.” The people of Colorado don’t seem to be too worried over the issue.
It may be to your dismay that the passing of this amendment has its benefits to society. Legal marijuana in the U.S has potential to be a $45 billion to $100 billion industry (while illegal sale is a $36 billion industry). Colorado alone already generates $5 million in sales taxes from the sale of medical marijuana. According to a poll by the Associated Press, one-third of Americans think that legalizing marijuana’s use would boost the economy. The negative, it affects workplace motivation.
Hopefully, it will not take an extended period of time for the Department of Justice to come to a decision on this matter, but as for now, federal law still says marijuana is an illegal drug, so don’t break out the potato chips too quickly.