Legalizing Marijuana Could Bring in $2 Billion in Taxes
Washington residents will get the chance to vote on whether or not to legalize marijuana this fall, a measure that could bring in nearly $2 billion over the next five years.
The Washington State Office of Financial Management is reporting if initiative 502 passes, the money made from selling the marijuana in state-run shops will help the state in education and health care.
People in the Tri-Cities were more or less split on the initiative, but Lorraine Cooper, Kennewick School District's Communications Director, said even if it passes, the district will not expect any money.
"Money generally tends to go into a general fund and then the legislature votes on a budget," Cooper said. "To say that there's specific money earmarked for schools that actually makes it to the schools we're pretty skeptical about that."
The Office of Financial Management report claims that the money will be brought in assuming there are no issues with federal laws.
As it stands, there is a federal law preventing people from buying, selling, handling or using marijuana, and people will still be subject to arrest or fines from federal agencies even if I-502 passes.
The initiative is on the general election ballot set for November 6th.