GOP, Dems Join Forces On Pennsylvania Marijuana Bill: Why Let Neighboring Ohio Get 'Lion's Share' Of Cannabis Dollars?

Pennsylvania seems to be on the verge of a legislative shift as bipartisan lawmakers unveil a new bill to legalize recreational marijuana. Reps Aaron Kaufer (R) and Emily Kinkead (D) are leading the charge, urging their colleagues to support the reform as neighboring states such as Ohio, which is preparing to launch its legal cannabis market, are poised along PA’s border ready to benefit from its cannabis dollars.

Why Let Ohio Get The Lion’s Share?

“For six years, residents of the Commonwealth with medical needs have had access to cannabis through the state's medical marijuana program," they wrote. "While that program has remained robust, many of our neighboring states have legalized the recreational use of marijuana. One of the most recent, Ohio, is primed to open their market with the lion's share of their licenses perched on the border of Pennsylvania as they seek to capture Pennsylvania dollars into their market."

Gov. Josh Shapiro (D) called on lawmakers to legalize cannabis in his February budget address, during which he also mentioned the five border states with legal weed.

“We’re losing out on an industry that, once fully implemented, would bring in more than $250 million in annual revenue,” Shapiro said at the time.

What’s In The Bill

The proposed legislation would to create a regulated cannabis market overseen by the Dept. of Agriculture, prioritize social equity, support small businesses and introduce strict safeguards to prevent youth access. And there are the millions in revenue.

The bipartisan lawmakers said their bill would help create jobs and generate "significant tax revenue" while targeting the illegal marketplace, reported ABC27 News. In March, the Independent Fiscal Office released a report that said legalized marijuana in Pennsylvania has the potential to bring in more than $1 billion in tax revenue over the next five years. Farmers would also have an opportunity to participate in the legal market.

In a press release, Rep. Kaufer said the bill would focus on public safety and consumer protection. “This legislation builds on the successful framework of our medical cannabis program, maintaining high standards for product quality, packaging, and labeling to ensure consumer well-being.”

Long Time Coming

"It is well past time for the Commonwealth to legalize cannabis for recreational use, address the injustices of the failed War on Drugs, and ensure that Pennsylvanians can benefit from this industry in the same way our neighboring states have," Kinkead said. "Our bipartisan effort to provide specific language that takes the best practices from other states is the next substantial step in finally getting this done."

No doubt Pennsylvania will be on people’s minds at the upcoming Benzinga Cannabis Capital Conference in Chicago this Oct. 8-9. Join us to get more insight into what the wave of weed legalization means for the future of the industry. Hear directly from top executives, investors, advocates and policymakers. Get your tickets now before prices go up by following this link.

Photo: Benzinga edit with photos from Geralt and Kindel Media by Pixabay