College Paid for by Marijuana

Starting in 2017, high school graduates in one Colorado county will be able to turn to a college scholarship funded by marijuana tax.

On Tuesday, 60% of voters in Pueblo County approved a measure that will phase in an increase in taxes — 5% by 2020 — on marijuana growers  to fund college scholarships and other community projects.

The county is expected to raise $3.5 million with this tax increase, and at least half the revenue will go toward funding scholarships for high school graduates in Pueblo to attend local colleges. Depending on revenue, the program might be expanded in future years.

“The whole point of the scholarship program was to make higher education a reality for families who can’t afford to send their kids to school because of debt,” said Paris Carmichael, a spokesperson for Pueblo County.

– Read the entire article at CNN News.