Congress

August 19, 2013

Marijuana industry eager to pay taxes – and cash in on deductions

As Congress wrestles with big budget cuts, one budding industry wants to help out the federal government with a novel message: Tax us, please. Marijuana businesses and their backers say legalizing the drug and taxing it like alcohol would add billions to the federal treasury. Some analysts dismiss a pot tax bonanza as far-fetched, neither likely nor lucrative. But the idea is stirring newly serious debate on Capitol Hill.

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