With less than two weeks to go before Thanksgiving, it’s looking less and less likely New Jersey will legalize recreational pot before the end of this year.
Gov. Phil Murphy had made legalizing marijuana one of his front-burner issues when he took office last January. But negotiations on a legislative package have stalled.
State Senate President Steve Sweeney, D-Gloucester, who must sign off on any marijuana bill that’s put up for a vote, is making it clear he’s drawn a line in the sand over how much the state should tax recreational weed.
“If you tax too much you’re going to drive people to the black market," he said.
During a forum with the New Jersey Society of Certified Public Accountants on Thursday, Sweeney said legalizing pot will create 43,000 new jobs, so it will benefit the state economy in more ways than one.
“But the biggest problem is everyone wants a piece of it," he said.
“The less you tax the more you attract, I really do believe that. So with marijuana, I’m not going above 12 percent, that’s as high as I’ll go."