So much tax revenue? Well, that’s currently the problem of Colorado after selling almost 150,0000 pounds of marijuana and collecting about $50 million in recreational marijuana tax revenue during its first year of legalization. And according to a 1992 voter-approved constitutional amendment called the Taxpayer’s Bill of Rights, Colorado has to pay back taxpayers whenever it makes more revenue than what is allowed.
Sounds like a treat to taxpayers, right? But politicians would hear none of it.
“I think it’s appropriate that we should keep the money for marijuana that the voters said that we should,” said Republican Senate President Bill Cadman. He is referring to the Amendment 64 in 2012 wherein voters agreed that the first $40 million revenue would go to school construction.
Republican senator and budget writer Kevin Grantham agrees. “This is a little bit of a different animal. There’s a struggle on this one.”
While some Colorado citizens don’t mind the money going to schools, others believe that returning their money is the least that the government can do, with Colorado adding 30 percent more taxes on weed.
“I don’t care if they write me a check, or refund it in my taxes, or just give me a free joint next time I come in,” said David Huff, a carpenter from Aurora. “The taxes are too high, and they should give it back.”
The tax refund is reported to be around $7.63.
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