A Monmouth University poll finds more than 6 in 10 New Jersey residents support legalizing marijuana and half say a current proposal to make it happen is a good idea. This as legislators say they are closer to an agreement.
Pot? Or not?
The stalemate between Gov. Phil Murphy and other state leaders over marijuana appears to have been broken. The primary sponsor of the bill to legalize says they have reached a deal on how to tax and regulate the drug, CBS2’s Meg Baker reported Monday.
Instead of a percentage tax on price, legal marijuana would be taxed based on weight, giving the state a level of predictability on revenue.
“There will be a $42 excise tax on every ounce that is sold, regardless of price,” said state Sen. Nicholas Scutari, D-Union. “There will be a three-year look-back in case we need to reevaluate that because it is a possibility that the price goes down so low that $42 becomes unmanageably high.”