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Report: Legal Marijuana Boosts Government Revenue – A Little

A new report finds that legalizing and taxing marijuana boosts revenue for state and local governments, but not by much. The credit rating agency Moody’s Investor Service says in a study released Tuesday that legalizing recreational use of marijuana brings governments more money than it costs. Despite high taxes on the drug, it accounts for just a small portion of government budgets. A marijuana tax brings in the equivalent of about 2 percent of the state budget in Colorado, for instance. Moody’s described the revenue effect as minimal on local governments in states with legalized pot. Twenty-nine states now allow marijuana for either medicinal or recreational uses.