HARRISBURG, Pa. - Pennsylvania's elected fiscal watchdog said the state government could help its chronic budget deficit by raking in tax revenues from the legalization of recreational marijuana.
Auditor General Eugene DePasquale said Monday the state could bring in $200 million or more annually, based on what has occurred during legalization in Colorado.
"The regulation and taxation of the marijuana train has rumbled out of the station, and it is time to add a stop in the Commonwealth of Pennsylvania," DePasquale said during a news conference at the state capitol.
DePasquale, a Democrat, called the legalization of recreational marijuana something that "can be both good socially and fiscally."
"The revenue that could be generated would help address Pennsylvania’s revenue and spending issue, but there is more to this than simply tax dollars and jobs," DePasquale said. "There is also social impact, specifically related to arrests, and the personal, emotional, and financial devastation that may result from such arrests."
Pennsylvania has legalized medical marijuana and is in the process of setting up a system to grow, sell and regulate it.
The National Organization for the Reform of Marijuana Laws said 20 states have decriminalized marijuana, a list that does not include Pennsylvania.