Sacramento Democrats' affordability agenda has not addressed high costs of electricity, gasoline, insurance, or housing. Lawmakers are pursuing cannabis tax relief, aiming to reverse a recent excise tax increase. This initiative garners bipartisan support, but it overlooks initial promises made during marijuana legalization in 2016, which included funding for vital programs. The proposed tax relief could significantly reduce state cannabis tax revenues, impacting services. Industry representatives highlight the struggling legal market's threat from taxation, advocating for support to ensure its survival and maintain California's cannabis culture.
The industry's current affordability crisis is against the larger illicit market, prompting calls for reversing an excise tax increase that took effect this month.
In 2016, Californians voted to legalize marijuana for new tax revenues, which were meant to fund youth programs, child care, and law enforcement.
Lynn Silver states that proposed tax relief could reduce cannabis tax revenues statewide by over $1 billion in seven years, posing a threat to youth programs.
Matt Haney emphasizes that if taxes continue to burden struggling cannabis businesses, California's cannabis culture is at risk of extinction.
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