According to a new report from the Michigan Senate Fiscal Agency, the state stands to collect hundreds of millions in tax revenue in the coming five years if the legal recreational cannabis initiative – known as Proposition 1 – is approved in the coming elections.
The group behind the legalization campaign, Coalition to Regulate Marijuana Like Alcohol In Michigan, is surprised at the numbers, having predicted the state would collect about $520 million in sales and taxes. The government’s estimate was closer to $730 million from the initiative, which would impose a 10 percent excise tax on non-medical cannabis sales in addition to the state’s six percent sales tax.
Revenue from the excise tax would be divided between roads, schools and local government, reported the Detroit News.
Based on the government report, out of $252 million in total marijuana revenue, nearly half would go toward road construction and K-12 education
“We’re also saving millions in law enforcement costs on the other end,” said Josh Hovey, a spokesman for the Coalition to Regulate Marijuana Like Alcohol ballot committee. “So this will be a significant gain for the state.”
Meanwhile, Snoop Dogg was in Detroit on Oct. 10, at the Michigan Commercial Cannabis Convention and Expo, reported the local ABC News channel.
While one would assume he was there to push his weed company, Leafs by Snoop, he was actually in Detroit to promote his gospel music and play “Redemption of a Dogg, opening later in October at the Detroit Music Hall.
Snoop and Gospel Music?
“I don’t care what nobody says or what it does to my image or reputation because it is not as important as this message is,” said Snoop Dogg.
Snoop confirmed that he supports Proposition 1, of course.
