California marijuana business leaders warned of a "collapse" in the industry

In a letter to California governor Gavin Newsom and legislators on Friday, a large number of marijuana industry leaders warned that the state's legal marijuana market would be on the verge of collapse without tough action. 29 corporate executives and long-term activists jointly signed a request to the Newson government to take concrete steps: cancel the state marijuana cultivation tax to be increased on January 1, 2022, suspend the 15% marijuana consumption tax in the state for three years, and expand the number of marijuana retailers in the state. Nicole Elliott, director of the California marijuana Control Bureau, said in a statement that more time was needed to "improve and iterate the regulatory framework".

Source: mjbizdaily com