Phil Murphy, the governor of New Jersey, released a state budget proposal this week that expects the state to make $80 million in marijuana tax revenue over the next fiscal year.
This is the second state budget plan from Murphy and it calls for $60 million in revenue from recreational marijuana taxes and $20 million from medical marijuana.
“It is time to legalize adult-use recreational marijuana — to begin eliminating racial and social inequities, and create a new industry with the potential of thousands of good-paying jobs, opportunities for minority business owners, and billions of dollars in economic activity,” said Murphy.
“Most importantly, this is the right step for eliminating decades-old and persistent racial and social inequities,” he said. “But it is also our chance to create an entirely new state-based industry with the potential to create thousands of good-paying jobs, expand opportunities for minority business owners and jump start billions of dollars in new economic activity.”
The Governor also tweeted, “It is time to legalize adult-use recreational marijuana – to begin eliminating racial and social inequities and create a new industry with the potential of thousands of good-paying jobs, opportunities for minority business owners, and billions of dollars in economic activity.”
