Lawmakers are turning to marijuana legalization to pull Illinois out of a fiscal death spiral, sparked by years of failed budget talks that resulted in a multi-billion dollar deficit.
The legislature plans to tackle marijuana legalization during its next session in January as a way of boosting government revenue to help pay down its crippling deficit. Officials in Illinois managed to pass the state’s first budget in more than two years July 6, overriding a veto from Republican Gov. Bruce Rauner, reports WGN Radio.
The previous budget impasses helped the state rack up nearly $15 billion in unpaid bills and resulted in a June statement from S&P Global Ratings threatening to downgrade the state’s credit rating to “junk” status.
Democratic state Sens. Heather Steans and Rep. Kelly Cassidy introduced legislation in March to legalize marijuana as a way to rapidly boost tax revenue.
Source / Full Article: http://dailycaller.com/2017/07/12/illinois-turns-to-drugs-to-save-their-economy/