California's legal marijuana industry will have to wait for a tax cut.
Legislation that would have slashed taxes on legal pot for three years to entice people away from the black market failed to advance out of a key legislative committee Friday.
"Today was another big win for the black market," said Assemblyman Tom Lackey, who co-authored the measure. "All we wanted to do is to level the playing field financially."
Marijuana growers and sellers in California, which launched the nation's largest marijuana market at the start of the year, have complained that taxes are too high. They argue many consumers are shopping in the underground market to save money.
In some areas, combined state and local taxes can approach 50 percent.