States strapped for cash consider marijuana tax - FOX 10 News | fox10phoenix.com

States strapped for cash consider marijuana tax

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With voters in Washington and Colorado legalizing recreational marijuana use, some legislators may be considering taxing marijuana according to a report on Politco.com.

The report says Representative Jared Polis (D-Colo.) is pushing for federal legalization in Congress. Polis says the amount taken in by a tax could pump hundreds of millions into state budgets.

Dale Gieringer, director of California National Organization for the Reform of Marijuana Laws, tells Politico.com that legalizing pot could bring in at least $1.2 billion to his state alone.

However, the report says Jeffrey Miron, a pro-legalization scholar at the libertarian Cato Institute, believes that it "is not a cash cow that can solve anyone's fiscal problems."

HOT TOPIC QUESTION: Would you favor legalized marijuana in Georgia? Post your comments on our FOX 5 Atlanta Facebook page, or tweet us @GoodDayAtlanta.

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