MONROE, Mich. — Michigan lawmakers are considering raising the state’s wholesale tax on marijuana from 15% to 24%, a move supporters say will help fund road projects but business owners warn could cut into profits and drive customers to neighboring states.
The House has already approved the proposal, and the Senate is expected to vote on it soon. The retail tax on marijuana — 10% at the point of sale — would remain unchanged, state Rep. William Bruck (R) said.
"I think it right sizes that industry when compared to other states, and I don't think it's outlandish to say that we're going to be in the top third of taxation on this product," Bruck said.
Revenue from the increase is estimated at $420 million annually, all of which would go toward Michigan’s roads as part of a permanent fundin