Texas could see the legalization of cannabis some time this year
Although 64% of voters in Texas seem to be in favor of the legalization of recreational adult-use marijuana to boost revenue for K-12 education in the state, Lt. Governor Dan Patrick, who presides over the Texas State Senate, has regularly blocked such a move on the Senate floor. So, Texans who are concerned about education in the state are beginning to worry about where the funding is coming from now that tax revenues from restaurants and bars have slowed to a trickle due to the COVID-19 pandemic.
When polling parents who have children in Texas public schools from Kindergarten to grade 12 and graduation, over 65% supported the use of revenue from legalization to fund public education. In fact, more Texans support funding public education via the legalization of marijuana than by putting increased taxes on sugary drinks, hotel occupancy or motor vehicles.
Heather Fazio, director of Texans for Responsible Marijuana Policy, said in a recent interview, “These new poll results reaffirm what many of us have known for some time: Texans are ready for marijuana legalization.” She continued, “As we move forward, it’s important to balance our desire to generate revenue with our desire to stamp out the underground market. Sensible regulation and reasonable tax rates will give us our best shot a bringing the market for cannabis into the light of day, protecting consumers and disempowering cartels.”
It is estimated that the state could raise more than $1.1 billion in marijuana tax revenue every two years based on the Colorado model.