California Gov. Gavin Newsom signed legislation earlier this week to lower California’s 19% cannabis excise tax back to 15% next month. The excise tax had automatically increased to 19% on July 1 of this year as laid out by the 2022 state budget.

Under the new legislation, the lower excise tax will be implemented by Oct. 1, and will not increase until at least 2028.

“We’re rolling back this cannabis tax hike so the legal market can continue to grow, consumers can access safe products, and our local communities see the benefits,” Newsom said in a press release.

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