Crosscut Now
Mar. 4, 2021 - How $1 billion in pot taxes gets spent in WA
3/4/2021 | 1m 15sVideo has Closed Captions
How $1 billion in pot taxes gets spent in Washington state.
Money from legal cannabis sales amounts to about 2% of the state operating budget.
Problems playing video? | Closed Captioning Feedback
Problems playing video? | Closed Captioning Feedback
Crosscut Now is a local public television program presented by Cascade PBS
Crosscut Now
Mar. 4, 2021 - How $1 billion in pot taxes gets spent in WA
3/4/2021 | 1m 15sVideo has Closed Captions
Money from legal cannabis sales amounts to about 2% of the state operating budget.
Problems playing video? | Closed Captioning Feedback
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(contemplative music) This year is a milestone for the state's legal pot industry.
For the first time the state's biennial budget is expected to collect more than $1 billion in marijuana sales taxes.
That's nearly three times what was collected in 2015 to 2017.
But that money isn't up for grabs.
Nearly two thirds of it is allocated under state law to specific programs.
Following the original plan to legalize marijuana.
Healthcare takes 58% and the General Fund 33%.
That's why state lawmakers don't look at pot taxes as an ideal revenue source for new initiatives.
This legislature is expected to pass a new 2 year operating budget of over $55 billion.
Pot revenues will account for less than 2% of that.
(news theme) I'm Starla Sampaco.
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