Weed and education. Goes together like… peanut butter and… Ok, maybe not. But maybe they will. Soon.
The legalization of marijuana has created scholarship opportunities for the students of Pueblo, Colorado. The addition of a 5% excise tax on the suppliers of marijuana in the state have made this possible. Of this tax, 50%, each year, will be set aside for the use scholarships.
The plan is slated to come into effect in 2017 and the tax on marijuana will progressively increase until it reaches the 5% mark. By 2020, the expected totals of the tax are estimated to be $3.5 million.
And what would any of this be without some controversy?
Journalists call it a contradiction. Schools fighting to decrease cannabis use while harnessing pot sales to underwrite higher education (no pun intended, or maybe it was)?
Overall, consensus is supportive of pot tax for college. Taylor West, Deputy Director at the National Cannabis Industry Association, on the business end of marijuana, insists that suppliers are enthusiastic that they can contribute to the “overall economic community.”
For the city of Pueblo, 22% of the state’s pot is produced in the county, with 3% contributing to sales. The people supporting this bill residents as well as growers and legislators. Approval ratings were at 60%. Sounds like a pretty sweet deal, though, doesn’t it?