NJ looks at 4 states with legalized marijuana to calculate revenue estimate

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TRENTON -

The state of New Jersey is looking toward four states that have already legalized recreational marijuana as a guide for calculating the $60 million in new tax money legalization could bring into the state.

Treasury officials say that they examined revenues for the first year of legalized recreational cannabis from Colorado, Nevada, Oregon and Washington. They considered those states' populations as compared to New Jersey's to arrive at the $60 million figure.

Gov. Phil Murphy says that he hopes New Jersey joins the nine states and Washington, D.C., in approving recreational pot, fulfilling a campaign promise and reversing the resolutely anti-drug policies of his predecessor, Chris Christie.

Republicans in the Legislature say they view the fact that legislation hasn't passed yet as a sign legalization doesn't have enough support to pass the Democrat-led Legislature.

The Associated Press wire services contributed to this report.

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