Heavily in Debt, Illinois Could Turn to Recreational Cannabis as a Solution

As cannabis legalization slowly sweeps across the nation, politicians have started to take notice of the massive tax revenue raked in by Colorado, and some are starting to consider the recreational market as a way to alleviate financial woes. Illinois is one state that could definitely use the influx of cash that is generated through marijuana cultivation and sales. 

With a current budget deficit of $9 billion, state representatives have recently started concocting a plan to work recreational legalization into the law. Back in March, lawmakers introduced legislation that would create a regulated cannabis industry in Illinois. The measure, which is aiming to garner approval in 2018, would allow adults to possess up to 28 grams and create a retail market as well. 

Although local representatives are well aware that legalizing cannabis won’t solve the entirety of their financial problems, it’s becoming abundantly clear that the plant can help set them on the right path. While Colorado collected almost $200 million in tax revenue, the fiscal impact on Illinois would be expected to range somewhere between $350 million to $700 million.  

Most importantly, the measure…