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Michigan GOP Lawmaker Seeks To Repeal Marijuana Tax Increase As Rising Costs Cause Businesses To Close
['Tom Angell']
Marijuana Moment
A Michigan Republican representative has filed legislation that would reverse a recently enacted tax increase on marijuana businesses.
The new bill, from Rep. James DeSana (R) would repeal the 24 percent wholesale cannabis tax that was enacted as part of legislation negotiated by Gov.
The tax was projected by state officials to raise $420 million, with the revenue aimed at funding road repairs and construction.
Removing the new wholesale tax would ease the fiscal burden on legal cannabis businesses and help them compete with the unregulated market, he argues.
Meanwhile, earlier this year, the Michigan Cannabis Regulatory Agency announced it is distributing nearly $100 million in marijuana tax revenue to over 300 local governments and tribes across the state.