2023 Maine budget benefits from 25% increase in sin tax revenue (casinos, tobacco, marijuana) in 5 years, reaching $353M annually.
Maine's 'sin taxes' on casinos, tobacco, and recreational marijuana have increased revenue by 25% in 5 years, now amounting to $353M annually (7% of the state's $5.1B budget). Legal marijuana sales surged from $82M in 2021 to $217M in 2023, contributing significantly to the healthy budget outlook. Critics argue the regressive nature of sin taxes, but experts argue they provide a valuable financial relief valve for states under financial pressure.
August 18, 2024
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