Cannabis reform is often passed with promises of new tax revenue to put into the city. Every state has raked in boatloads of tax revenue poured into various causes like addiction services and schools. One place in New Mexico has granted the most straightforward way yet. Albuquerque is cutting checks to its residents, focusing first on those who live in vulnerable communities.
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New mothers, people of color, and trans people are among those focused on for the first wave of no-strings-attached checks from the cannabis tax fund.
“This program puts money where it’s needed most, into the hands of struggling families working to build a better future,” Mayor Tim Keller said in a press release. “Albuquerque is a city that will always fight to correct injustices and will push to help families get the tools they need to succeed with dignity.”
The first group to receive checks includes 80 households. Each will receive $750 per month for three years. A second wave will join the initiative eventually, including 20 additional families and 40 opportunity youth.
Mayor Keller established the initiative as part of a promise to address racial disparities in the area. The program has tasked the City of Albuquerque’s Office of Equity and Inclusion (OEI) with adequately doling out the $4 million allocated to the Cannabis Equity and Community Reinvestment Fund. This is the first of many steps to spend the money as intended.
“Families are creative problem solvers. This program gives them the power to make choices that create stability and opportunity,” said OEI Director Sonya Lara in the release. “Across the country, guaranteed income programs are changing lives, and we’re bringing that impact to Albuquerque.”
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Cohort members will receive this financial assistance alongside financial counseling through the Office of Financial Empowerment. This piece hopes to set everyone up for success once the three-year program ends.
Many who dream of cannabis legalization that includes taxation see a future where the industry makes the community a better place. The City of Albuquerque seems to be putting its money where the need is.
