Even as oversupply drives prices down, economists adjust their tax projections upward
The quarterly revenue forecast state economists released this week showed Oregon’s booming economy continues to deliver record tax revenues—and cannabis consumption is going through the roof.
When lawmakers finalized the 2017-2019 budget in the middle of last year, they expected to net about $142 million from cannabis taxes over that two-year period. As of this week, the Oregon Office of Economic Analysis has jacked that number up to nearly $163 million, a 15 percent increase.
For 2019-2021, they now expect the tax to yield $222 million. (Of that amount 40 percent goes to K-12 education, the rest to services and law enforcement.)
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