The Illinois lawmakers have recently launched a bill to legalize the use of marijuana for recreational purposes for residents above 21 years old. The advocates argued that the move will resolve the state’s infamous multi-billion dollar budget crisis with a projected revenue collection of between $350 million to $700 million annually.
The bill if passed, will allow the residents to acquire, produce, or purchase up to 28grams of the substance while the licensed enterprises will trade the drug within the stipulated regulations. According to Kelly Cassidy, the Illinois Representative, the bill is estimated to bring in more than $700 million a year which will be used to reimburse the state’s debts.
A survey conducted in March by the Public Policy Institute at Southern Illinois University revealed that 66 percent of registered voters in the Illinois state are fully supporting the idea of legalizing and taxing the recreational marijuana. About 74 percent of Chicagoans are also favoring the legalization of the recreational marijuana. As a result of these statistics, the state lawmakers and marijuana advocates held a conference recently to disclose a new plan to pass the bill.
Cassidy, who among other policy experts is fully supporting the proposal, cited various reasons why the bill is a real boost for the state’s economy. There would be more revenue collection, the creation of job opportunities and increased tourism earnings among other benefits. It’s evident that the recreational marijuana bill will be successfully passed. These are some of the reasons:
Many People Support the Bill
More than 700,000 people in Illinois confess that they occasionally use marijuana. The recent Studies found that 97 % of the people living in the state purchase the drug from the unregulated market. This revenue could be channeled to the government projects.
More Revenue for the State
The bill if passed could generate revenue of about $699 million annually. The legalization will bring in millions of money to the state, according to Cassidy, the State Representative.
Creation of Job Opportunities
The Bill will pave way for regulation of businesses and in the long run these will bring in more job opportunities for the residents. The recreational marijuana is a big industry and would require many workers for packaging, shipping, and selling the product. This will also boost tourism industry which is a leading sector for job creation.