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New York governor says legalization will help fill yawning economic hole left by COVID

Andrew Cuomo

60000 jobs: New York City relies on legalization to reduce corona damage

By creating 60000 new jobs and $ 300 million in tax revenue, Andrew Cuomo, the governor of New York State, plans to legalize the legalization of cannabis and open a free-trade and legal market for recreational purposes. , among other things to help rehabilitate the economy of the corona crisis. A tax of 10,25% will be levied on cannabis products plus 0,7% per milligram of THC.

New York State Governor Andrew Cuomo plans to legalize cannabis legalization and open up a free trade and legal market for recreation, among other things to help rehabilitate the economy from the corona crisis . A tax of 10,25% will be levied on cannabis products plus 0,7% per milligram of THC.

New York government Andrew Cuomo has given more details on his plan to legalize marijuana, which he says will help offset the economic damage caused by COVID-19 by creating 60 jobs and $ 000 million in tax revenues.

In his speech earlier this week Mr. Cuomo explained how he hopes to pass his legalization project. New York will do what is necessary, we will legalize recreational cannabis for adults, joining the 15 other states that have already done so.

In a press release, his office said he would "stimulate" $ 3,5 billion in economic activity, which would raise $ 300 million in tax revenue. He has not yet given a timeline for when it could become legal.

New York decriminalized possession of cannabis in August 2019, but legalizing it as an industry would monetize it like never before in New York.

New York has already approved medical cannabis on a limited basis and if it approves legalization, it will join 15 states in the United States as well as the capital Washington, where cannabis is already legal for recreational use. According to various estimates, New York will become the largest cannabis market on the East Coast with sales of $ 2,3 billion by the fourth year of market regulation. Cuomo once championed bills to legalize marijuana, but they were defeated by the New York Senate.

Tags : coronavirus / COVID-19CareersLawNew York
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