Smoke Clearing On Pot Tax Bucks

The panel, led by Secretary of State Kate Brown, had tentatively chosen the lowest of the estimates, which pegs the first-year yield at just $9.3 million after start-up and operational costs are deducted. In the first full two-year budget cycle in 2017-19, it projects $40 million, and in subsequent years, between $17 million and $26 million annually. Still, says Mazen Malik, senior economist for the Legislative Revenue Office who prepared the estimate, in the long term, you would expect marijuana to bring in a higher amount of revenue. State Treasurer Ted Wheeler says that estimate, though based on sound assumptions, is too conservative. I think its a mistake to disregard some of the higher estimates in the ECONorthwest report, he says. According to that report, it projects the first-year amount at $38.5 million and $78.7 million for the 2017-19 budget cycle. We feel its a conservative estimate and a safe amount, says Anthony Johnson of Portland, the measures chief sponsor. Jim Bucholz, director of the Oregon Department of Revenue, went along with the panels final figures.
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