California’s pot industry representatives sent a letter to Gov. Gavin Newsom, explaining that the state’s legal industry is on the verge of collapse. It needs immediate tax cuts and a rapid expansion of retail outlets for relief.
The letter signed by more than two dozen executives, industry officials and legalization advocates followed years of complaints that the heavily taxed and regulated industry was unable to compete with the widespread illegal economy, where consumer prices are far lower and sales are double or triple the legal business.
Four years after broad legal sales began, “our industry is collapsing,” said the letter, which also was sent to legislative leaders in Sacramento.
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