and $4.2 billion by 2027. New York State expects to eventually collect $350 million in annual tax revenue, according to estimates by Governor Andrew Cuomo’s administration.and Governor Andrew Cuomo signed it into law Wednesday morning.
“New York is ready to take its place as one of the most influential cannabis markets on the planet,” says Vita. The law’s passage is thanks to a years-long fight by Senator Liz Krueger, Democrat from Manhattan, and Assembly Majority Leader Crystal Peoples-Stokes, a Democrat from Buffalo. Senator James Sanders, Jr., a Democrat from Queens, voted yes on Tuesday, citing how draconian drug laws have hurt Black and brown people.
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