On Monday. Gov. Michelle Lujan Grisham sent out a tweet reaffirming her plan to transform New Mexico’s economy from a fuel and energy-based economy with our booming oil, gas, and coal sectors to heavily reliant on drug money from overtaxed marijuana.
The Governor failed to ram through her proposed legal weed bill in the 2021 Legislative Session, so in a desperate move to “not take no for an answer,” she will force the Legislature to reconvene in a “special session” to pass recreational weed legislation.
“I believe legalization of adult-use cannabis will be one of the largest job-creation programs in New Mexico history, driving entrepreneurial opportunities statewide for decades to come. It’s clear that New Mexicans are ready – let’s get it done,” the Governor wrote on Twitter.
It is clear that even the most “progressive” far-left plan for the Governor to ram through legalized pot wouldn’t even make the tiniest dent in New Mexico’s revenues with the current budget sitting at a bloated $7.4 billion — yes, BILLION.
According to that leftist legal recreational pot plan’s fiscal impact report, New Mexico would take in at most $15.1 million in revenue after years of losses to implement the program.
For context, the MOST such a revenue plan would generate in revenue wold be 0.204% of the needed funds to plug the gaping hole in Gov. Lujan Grisham’s budget.
The oil and gas industry, in contrast, generated $2.8 billion directly to the state general fund in fiscal year 2020. That is approximately 37% of the state’s budget coming from oil and gas.
In states that have already legalized adult-use marijuana, the largest of them being California, the state only brought in a total of $1.5 billion since 2018. The state’s budget is approximately $202 billion.
Gov. Lujan Grisham’s push for weed comes as she and her allies in the Democrat-dominated Legislature have pushed the most aggressive anti-energy policies aimed at driving the oil and gas industry out of the state in its entirety.
Weed, no matter if it passes or not, won’t make the slightest difference in the state’s budget, but Gov. Lujan Grisham sure wants to make New Mexico dependent on drug money–either by 20% taxed dope through her plan–or on the streets through contraband merchants of the product.