New Jersey Moves Closer to Expanded Cannabis Legalization
On Tuesday November 7, Mr. Phil Murphy was elected to be the next governor of New Jersey. Governor-Elect Murphy has supported expanded cannabis legalization throughout his campaign. A legalization bill could come up for vote in the state senate several months after Governor-Elect Murphy is sworn into office in 2018. If expanded legalization were to pass, some have estimated the state would collect an estimated $300 million in sales tax revenue. Colorado raised $2 million in tax revenue in its first month of legalization. Stay tuned for updates in the coming months.