Marijuana legalization won’t fix NY’s budget deficit anytime soon

This election, New Jersey voters will decide if the state should legalize marijuana. If passed, this could possibly accelerate legislative efforts in New York where Gov. Andrew Cuomo has said legalizing adult-use marijuana could be a way to help with the state’s multi-billion-dollar budget deficit.

Carlyn Buckler is an associate professor of practice with Cornell University’s School of Integrative Plant Science and an expert on the cannabis industry. Buckler says that marijuana legalization can lead to revenue gains, but due to expensive startup costs for cannabis growers and processors, it may be years before legalization in New York — if passed — would help to make up for the coronavirus-fueled budget deficit.


Cornell also has an interdisciplinary team of researchers and extension specialists studying how New York can move forward in developing its hemp industry.

Buckler says:

“States – especially…

Original Author Link click here to read complete story..

Latest posts