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Lack Of Jobless Stipends' Toll On Cannabis, Rising Illinois Mj Sales, Texas Hemp Firms Sue State & More

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Week in Review: Cannabis toll from lack of jobless stipends, rising Illinois MJ sales, Texas hemp firms sue state & more

Published 1 hour ago | By John Schroyer

It’s been a little more than a week since the $600-per-week federal jobless benefits expired, and the toll that lack of extra support could take on the cannabis industry – especially recreational businesses – might well become more apparent this month.

MJBizDaily takeaway: Democratic leaders and the White House have so far failed to reach a deal to extend the added benefits.

If nothing is done soon, the fallout on cannabis sales could be notable – perhaps setting back the gains the industry enjoyed after dozens of states deemed cannabis businesses “essential” during coronavirus lockdowns.

Alternatively, if some sort of deal is reached but the benefits are significantly reduced – to $200 a week, for instance – that might still cause a downturn in adult-use marijuana sales as unemployed workers start to cut more unnecessary expenditures. Illinois adult-use sales on rise as equity applicants left out

Illinois recreational marijuana sales continue to post healthy gains, including $61 million in July and more than $300 million to date this year.

But social equity business applicants have been unable to reap any of the benefits because of monthslong delays in the issuance of their permits, which has kept them sidelined.

MJBizDaily takeaway: Illinois might want to heed the advice of social equity advocates who want the state to use recreational marijuana tax revenue to help social equity applicants who continue to accrue expenses.

Source: https://mjbizdaily.com/week-in-review-lack-of-jobless-stipends-toll-on-cannabis-rising-illinois-mj-sales-texas-hemp-firms-sue-state-more/

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