The measure proposed a 4.5 percent increase in marijuana sales taxes to fund out-of-school learning stipends for Denver children.
was to raise around $22.5 million annually between the proposed dispensary tax increase and a 0.3 percent appropriation of the city's current pot tax revenue. The fund would have offered $1,000 stipends for Denver families to pay for learning enrichment programs, according to My Spark Denver. But the ballot measure faced significant pushback from the marijuana industry, which currently operates under a 26.41 percent sales tax.
"In pulling this initiative, proponents clearly recognized that community leaders and voters do not support increased taxes on consumer cannabis and want to protect this critical industry made up of hundreds of small businesses," Marijuana Industry Group board chair Tiffany Goldman says in a statement."This is the second time in as many years that campaigns viewing the cannabis industry as a piggy bank for personal projects have lost.
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