CBS News: Bill reversing 25% tax hike on California's legal cannabis industry heads to Newsom's desk

EXCERPT:

"By stopping this misguided tax hike, the Legislature recognized that smart policy grows revenue by keeping the legal market viable," said Amy O'Gorman Jenkins, executive director of the California Cannabis Operators Association, which represents licensed cannabis businesses.

"Today's result is exactly what Proposition 64 promised: patients and consumers accessing tested, regulated products while generating sustainable tax revenue for communities," Jenkins added.

Voters passed Prop. 64 in 2016, which legalized the possession, cultivation and sale of cannabis for recreational use, along with a 15% excise tax.

FULL ARTICLE: Bill reversing 25% tax hike on California's legal cannabis industry heads to Newsom's desk - CBS San Francisco