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A legal marijuana program could mean substantial revenue for Florida, according to Smart & Safe Florida, the group behind the ballot measure to legalize cannabis, otherwise known as Amendment 3, for adults.
At a roundtable this week in Tampa, the organization quoted economists who estimate that legalizing marijuana could generate between $195 million and $431 million annually in sales tax revenue, proving a significant boost to the state’s economy. Florida is not unique either. Other legal weed states are doing it to the tune of $20 billion in tax revenue.
Sean Shaw, a local attorney, pointed out that this revenue could address various critical needs.
"There’s infrastructure need, there’s education need, there’s behavioral studies need, there’s mental health funding, there’s juvenile justice issues," he said.
Jake Hoffman, a business owner and executive director of Tampa Bay Young Republicans, is also on board with legalizing cannabis for adults in Florida.
"If this money is able to offset even just a little bit and put more money back directly into the average Floridian’s pockets, then I’m for that," he said.
Despite these benefits, Governor Ron DeSantis vehemently opposes the initiative, expressing concerns over the broad language of the amendment, its negative societal effects and the smell.
"If that marijuana passes, this will smell like marijuana. Like when you go outside, it will," he said at a Wednesday press conference.
The governor drew applause from one faction and derisive remarks from another when he said the following at the same news conference: "I think you’re going to see people — you’ll be able to bring what, 20 joints to an elementary school."
The DeSantis team recently launched the so-called Florida Freedom Fund, the stated goals of which are to defeat marijuana legalization and access to abortion. This is despite a recent Fox News poll showing that 69% of Floridians support the abortion-access initiative and 66% favor legalizing adult-use cannabis.
On April 1, the Florida Supreme Court approved the marijuana legalization and abortion constitutional amendments, which voters will decide on in the November 2024 election.
Meanwhile, Smart & Safe Florida is moving ahead with a new round of ads promoting the “yes” vote. The advocacy group is partly funded by several cannabis companies, with Trulieve (OTCQX:TCNNF) leading the pack with a donation of up to at least $40 million.
Photo: Benzinga edit with images by Gage Skidmore from Surprise, AZ, USA – Ron DeSantis via Wikimedia Commons and Jose Luis Sanchez Pereyra via Unsplash
Posted In: TCNNF
