New York Gov. Predicts Legalization Next Session as State ‘Desperate for Funding’

New York Gov. Andrew Cuomo said on Thursday that he expects New York to legalize adult-use cannabis next year, “because the state is desperate for funding.”

Full story after the jump.

New York Gov. Andrew Cuomo (D) on Thursday said the upcoming legislative year is “ripe” for passing adult-use cannabis laws “because the state is desperate for funding,” according to a North Country Public Radio report.

“Even with Biden, even with the stimulus, we’re still going to need funding. I think we’re going to get there this year.” – Cuomo to NCPR

Former Vice President Joe Biden, the Democratic presidential nominee, has not formally won the presidency as of Friday morning.

Cuomo’s comments come just days after New Jersey voters approved a legalization ballot initiative and less than a month after Vermont lawmakers approved legislation to allow a taxed and regulated cannabis marketplace. Cannabis sales in neighboring Massachusetts launched in 2018 along with sales in Canada. The green wall is closing in on the state and paired with the budget shortfalls pressure is on lawmakers and Cuomo to, finally, pass the reforms.

After years of opposition, the Democratic governor changed his tune in 2018 following a Health Department report supporting the move; however, the State Senate was controlled by Republicans who would not back the reforms. Last year, Democrats took control of the chamber, giving them control of both the Senate and House, but lawmakers couldn’t come to agreements on how the funds would be earmarked and the session ended without a deal.

The Legislature appeared poised this year to approve a legalization measure – Cuomo had included it in his executive budget – but that push was derailed by the coronavirus pandemic as lawmakers refocused their efforts on other issues.

The state estimates legal cannabis tax revenues could reach $700 million annually but is projecting $59 billion in revenue shortfalls through 2022 due to the coronavirus pandemic.

Exclusive offer from our sponsor:

Get daily news insights in your inbox. Subscribe


Latest Cannabis News

View all news Get email updates

Featured Business Profiles

Create a profile View all categories

From Our Partners

New to Cannabis? Start Here.

The Ganjapreneur beginner's guide to all things cannabis.

Business Index

Find and connect with cannabis-friendly service providers:

Website & branding by the Ganjapreneur in-house agency:

Blue Dream - Uplifted cannabis industry branding & marketing.

Uplifted cannabis industry branding & marketing.