No Let-Up on Marijuana for Governor Who Projects Millions in Revenues, Taxes
Murphy wants full legalization in New Jersey by January 2019 as lawmakers are still deep in the weeds over what that could entail
Governor Murphy is pushing ahead on marijuana legalization but has offered big promises and few details in his first budget speech.
The governor is calling for full legalization in New Jersey by January 1, 2019 but, with several competing bills stuck in the Legislature and multiple listening sessions scheduled for the coming months, Murphy’s plan seems optimistic.
In his first official budget address yesterday, the governor announced projected state revenues of $80 million from marijuana sales and taxation — $60 million from recreational use and $20 million from medical sales. The proposed tax rate would be 25 percent plus an additional 7 percent sales tax, bringing the total tax on recreational marijuana to 32 percent.
“The only sensible option is the careful legalization, regulation, and taxation of marijuana sales to adults,” Murphy said.