In 27 states, tax revenue budgets are expected to drop by 10% or more. According to Barron’s, Burleson noted that cannabis reform has received attention in nine of those states, saying, “We expect budget concerns to prompt resurgent legalization efforts for these and other challenged states.”
This has already happened to some extent. Bipartisan lawmakers in Pennsylvania, New Mexico, and New York have already suggested cannabis legalization as an injection to state budgets. Shifting political winds, The Motley Fool writes, could also change the conversation around federal marijuana legalization.
Expectations were that Republicans would maintain control of the senate after the 2020 election. But according to RealClearPolitics, five senate seats are currently toss-ups and poll projections show Democrat candidates leading in each race.
“If the Democrats capture the Senate, my prediction is that bills to legalize marijuana at the federal level will easily pass both the Senate and the House (which appears to be safe for Democrats) in 2021,” Motley Fool’s Keith Speights wrote. “I don’t see either Joe Biden or Donald Trump vetoing this legislation, despite the lack of fervor for either candidate on marijuana legalization.”