A fiscal report issued by the state’s Auditor General estimates that taxing Pennsylvania’s existing retail cannabis market would yield $ 581 million in new annual revenue.
The report estimates that just under 800,000 Pennsylvanians are currently using cannabis. Statewide polling finds that a majority of voters endorse legalizing and regulating its use by adults.
“The benefits of regulating and taxing marijuana are undeniable,” the report concludes. “As its neighbors weigh the issue, Pennsylvania must act to create its own marijuana market. Otherwise, it runs the risk of losing the revenue from potential customers to other states. It is time for Pennsylvania to stop imagining the benefits of marijuana and realize them.”
Pennsylvania’s Auditor General Eugene DePasquale has previously spoken in support of statewide legalization. Governor Tom Wolfe has expressed support for decriminalizing marijuana possession offenses, but has been reluctant to endorse legalizing the marijuana market.
Full text of the report, “Regulating & Taxing Marijuana: A Special Report on the Potential Revenue & Financial Benefits for Pennsylvania,” appears online here.
