Tuesday, July 12, 2016

Cannabis legalization on California ballot

Stakes high as California poised to vote on recreational pot - CBS News:

July 12, 2016 - "California was the first state to legalize medical marijuana 20 years ago. Soon, it could become the fifth and largest state to approve recreational use, with an initiative on the ballot for voters this November.

"California's medical marijuana industry is already worth an estimated $2.7 billion. Experts say that number would reportedly more than double if recreational use is allowed.

"As the country's most populous state and the world's sixth largest economy, passing this legislation could encourage other states to follow and pressure the federal government to confront the issue....

"Unlike 2010 when a similar measure failed, this initiative has drawn big-name backers, including Lt. Gov. Gavin Newsom and former Facebook President Sean Parker. Proponents say with a 15 percent retail tax on the drug, the California cannabis market could reportedly generate $7 billion a year....

"If the measure passes in California, the number of Americans living in states where pot is legal will more than triple....

"Those who support the measure have outraised opponents at least 40 to one. When Californians defeated a similar legalization initiative six years ag0, it was during a mid-term election. But a recent poll shows nearly 60 percent of voters now support the measure.

"Supporters say this year's contentious presidential election is likely to attract younger, more progressive voters, which could help the initiative pass."

Read more: http://www.cbsnews.com/news/california-recreational-marijuana-legalization-vote/
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