Cannabis Tax Revenues Fuel Universal Basic Income Initiatives in U.S. Cities

Several U.S. cities are pioneering the use of cannabis tax revenues to fund
Universal Basic Income (UBI) programs, aiming to address economic
disparities and support communities historically affected by cannabis
criminalization.
*Albuquerque’s Groundbreaking UBI Program*

Albuquerque, New Mexico, has launched a notable initiative by allocating
$4.02 million annually from cannabis tax revenues to support a UBI program.
Half of this funding is directed to the Office of Equity and Inclusion to
provide $750 monthly payments to 80 households over three years, focusing
on the International District and Westside neighborhoods. These areas were
selected due to their economic challenges and historical impacts from
cannabis criminalization. The remaining funds support youth-focused
initiatives, including substance use prevention and recovery services .
*Rochester’s Vision for Cannabis-Funded UBI*

In Rochester, New York, Mayor Malik Evans has proposed utilizing cannabis
tax revenues to sustain a UBI program that currently provides $500 monthly
payments to 175 families. Initially funded by the American Rescue Plan, the
program aims to transition to a more sustainable model through cannabis
taxation. This approach seeks to address the wealth gap exacerbated by past
cannabis-related prosecutions .
*Broader Implications and Future Prospects*

These initiatives reflect a growing trend of leveraging cannabis tax
revenues for social equity programs. By redirecting funds from cannabis
sales to support UBI programs, cities aim to rectify historical injustices
and provide economic stability to underserved communities. As more
municipalities explore similar models, cannabis taxation could become a
pivotal tool in advancing economic equity nationwide.

The post Cannabis Tax Revenues Fuel Universal Basic Income Initiatives in
U.S. Cities appeared first on Merry Jane.