New York Lays the Groundwork for Legalizing Cannabis – RealMoney

Several key people in key positions in the State of New York have signaled an increasing openness to the idea of legalizing adult use cannabis. The item has appeared on the state budget but for various reasons but never got beyond that status. Now as the pandemic has wrecked the state’s economy, it’s looking more and more like a reality.

“It was being considered even prior to the pandemic but now more than ever, as we’re finding how cash strapped our state will be as we run out of revenues, I think it will absolutely be on the table for consideration in the next budget,” Lieutenant Governor Kathy Hochul recently said. Governor Cuomo weighed in saying that the state will legalize marijuana “soon” to help with the economic recovery from the coronavirus pandemic. He was quoted as saying that “We need revenue and we’re going to be searching the cupboards for revenue. And I think that is going to put marijuana over the top.”

Canopy Growth (CGC) has a new video series hosted by David Culver called, “Under The Canopy,” and Cuomo’s Assistant Counsel Axel Bernabe appears on the show. He spoke about how bordering states that have legalized adult use cannabis are pushing for New York to consider making changes. According to Bernabe, the governor will be introducing legislation that will serve as a “model” for other states, prioritizing social equity and economic development.

“We’re watching New Jersey closely. We’ve always been confident that we get to this before New Jersey, so if they pass the referendum they still have to have agreement between the governor and the Senate over there,” he said, referring to necessary implementing legislation that will need to be approved if voters pass the ballot question. “We’re working on this. We’re going to reintroduce this in

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