by Samantha Cavalier, Assoc. Print Editor
Colorado and
Washington became the first two states in the country to end the prohibition of
marijuana with the passage of amendments earlier this week that legalize adult
recreational use of the drug.
“Voters have
spoken and we have to respect their will,” said Colorado Governor John
Hickenlooper in a written statement. “This will be a complicated process, but
we intend to follow through. That said, federal law still says marijuana is an
illegal drug so don’t break out the Cheetos or gold fish too quickly.”
 |
| © Reuters |
This is likely
just the beginning of the battle for legalization, since marijuana is still
illegal in the eyes of the federal government. The Drug Enforcement
Administration remains insistent that marijuana is an illegal drug, and that
possessing, using, or selling it is a crime. The passage of amendments in
Colorado and Washington could likely lead to a battle between the states and
the federal government, according to Jeffrey Miron, senior lecturer of
economics at Harvard University.
Under Amendment
64 in Colorado, marijuana will be taxed and regulated like tobacco and alcohol
and sold in small amounts to adults 21 years of age or older. According to the
Associated Press, marijuana taxation could generate between $5 million and $22
million each year in Colorado. Likewise, Washington will place a heavy tax on
marijuana to raise revenue. The current proposal is a 25% tax rate that is
assessed three times; first when it is sold to the processor, next when the
processor sells it to the retailer, and lastly when the retailer sells it to
the customer.
Under the
Colorado and Washington amendments, personal possession of up to one ounce of
marijuana will be legal for anyone 21 and over. The same amendment was placed
on the ballot in Oregon, but was voted down.
