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In Establishing Marijuana Market In Oregon, Three Questions For Legislators

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Boston, MA, 12/01/2014 (mmjreporter.com) – It is all about doing the right thing at the right time in Oregon. A majority of voters in the state recently backed the marijuana legalization with 56% of the ballot. With such strong indication for the support of cannabis, the legislators now have a mandate to define the parameters for marijuana consumption and distribution in the state. However, according to the Oregonian, there are certain challenges for the lawmakers in the state to chew over as they ponder the right move in the whole cannabis legislation.

What is not in doubt is that there are economic and health benefits in the legalization of pot. It has been cited severally by experts that marijuana market could earn the U.S. about $6 billion in the next three years and over $10 billion by 2020. Additionally, it has been established that pot is potent in the handling of medical condition such as cancers and brain disorders like Alzheimer’s disease.

Although the health benefits of marijuana are contest elsewhere, Oregonians have already set in motion the efforts to legalize cannabis in the state. As such, the key questions that lawmakers there are considering include taxation of the substance, handling of recreational and medical marijuana and regulation of the market. There are potential benefits and challenges in each of the three areas depending on how they are done.

As concerns taxations, there are those calling for uniform taxation of the marijuana market. However, there are those who think that counties in the state should have their way in determining taxes for marijuana in their respective jurisdictions. The problem with a fragmented tax system is that marijuana could end up costing more in the state than anywhere else.

The issue of combining the regulation of recreational and medical marijuana is also being considered. Some legislators are of the opinion that the market should be bundled into one and regulated as such. However, there are also views to consider the recreational and medical marijuana markets separately.

The final major issue regards the regulation of the whole marijuana market whether fragmented or not. The legislators in Oregon understand that a tight regulation of marijuana could end up supporting black market, which would beat the whole concept of legalizing pot in the state.

Once these three key areas are addressed, legalization of marijuana in Oregon is expected to take off without serious hitches.


 

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of journaltranscript.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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