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New study shows recreational marijuana legalization could bring in billions of dollars

Posted: 7:18 PM, Jul 12, 2016
Updated: 2016-07-13 02:21:08Z

A new study shows that legalizing marijuana in Nevada could bring in billions of dollars in revenue. 

According to the Coalition to Regulate Marijuana like Alcohol, cannabis would bring in money without making taxpayers foot the bill. 

"We gave a billion dollars to Tesla, for those kind of numbers, we want to build a football stadium for $750 million, these are numbers we don't have to pay anything for," said state Sen. Tick Segerblom. 

But just how much money will marijuana bring into the community? 

At a glance the study suggests annually Nevada could see $1.1 billion in economic activity, $60 million in sales and excise tax revenue and more than 6,200 jobs. 

"This is one of the ways we can use what's already happening and take it out of the black market to regulate it," said Sen. Pat Spearman. 
 
The money will go toward regulating marijuana and any left over would go to improving schools. 
 
"What will happen for us here in Nevada is what we've been striving for all along and that is building a first-class education system," Spearman said. 
 
Yet, opponents are calling bluff. 
 
"We might get $15 million, but that frankly doesn't even build a library in Clark County," said Pat Hickey with the Nevadans for Responsible Drug Policy. 
 
Hickey believes money should go to improving career-advancement for locals. 
 
"We need more career ready employees for the Faraday Futures, for the Teslas, for the new Nevada," Hickey said. 
 
Voters will get to voice their opinion this November.