A bill has been introduced in the Michigan State Senate to repeal the 24% marijuana wholesale excise tax that went into effect this year.
Michigan saw a nearly 16% drop in marijuana sales in January from the previous year. It’s the largest month to month drop since legalization.
Ann Arbor Senator Jeff Irwin is a co-sponsor of the repeal. He says its passage was a bad choice.
“Now, we’re seeing the impact not just in terms of job losses and businesses closing down and all that business from other states coming here, we’re actually seeing host communities and K-12 schools are seeing a revenue hit as well.”
Estimates were that the tax would raise $420 million annually for road projects, but the latest numbers show revenues falling well short of expectations.
The bill has been referred to the Government Operations Committee.
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