Colorado Votes Down Cannabis Tax Increase Meant To Support Educational Programs

A ballot measure that would impose higher taxes on cannabis in an effort to fund education programs in Colorado, was voted down in Tuesday's elections. Under the proposal that was denied, Colorado Learning Enrichment and Academic Progress (LEAP) program, low-and

middle-income families would obtain a $1,500 stipend for children to take part in various educational activities, writes Marijuana Moment.

Under the measure, endorsed by Governor Jared Polis (D) and a few ex-governors, the excise tax on sales of recreational cannabis products would have been gradually raised from 15% to 20%. The first increase of 3% would be initiated on January 1st and reach 5% by January 2024.

Fiscal analysis concluded that Colorado would have …

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