Colorado is considering a bold move in order to protect its marijuana industry, should the federal government follow through on White House Press Secretary Sean Spicer's promised crackdown on recreational marijuana use. Colorado's legislature is currently considering a bill that would allow recreational marijuana growers and retailers to instantly reclassify their product for medicinal use in the event of a change in local, state, or federal law or enforcement policy.
Since the state's government taxes medical marijuana at a significantly lower rate than recreational pot — 2.9 percent versus 17.9 percent, respectively — the changeover would cause a $100 million reduction in Colorado's tax revenues each year. Some state officials have expressed concerns the bill would cause a massive hole in the state budget overnight while perhaps doing nothing to protect growers from a federal crackdown anyway.
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