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CT Lawmakers Reconsider Marijuana Legalization for Fiscal Reasons

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Efforts earlier this year failed to legalize recreational marijuana through the Conneticut Legislature. But that isn’t stopping some lawmakers from including legalization in several proposals to fix the state’s budget deficit. The $2.3 billion projected deficit is for the fiscal year starting July 1.

House and Senate Democrats like the idea of legalizing recreational marijuana, according to U.S. News & World Report. In fiscal year 2018, the state could see as much as $60 million in revenue from legal marijuana. It’s second year, legal marijuana could bring in $180 million in revenue.

Governor Malloy, however, remains pessimistic regarding legal marijuana’s true revenue potential. He said, “There’s no immediate amount of money to be had.”

Supporters say that legalization is a way to regulate the illegal industry and could bring in millions of dollars of much-needed revenue for the state. House Majority Leader Matt Ritter says the idea is to “leave a lot of options on the table” as lawmakers attempt to come to a budget deal.