Billionaire Sean Parker Backing California Marijuana Initiative

Sean Parker: cofounder of Napster, former Facebook president, and current billionaire is backing a new recreational use marijuana initiative in California.

The Control, Regulate, and Tax Adult Use of Marijuana Act would legalize marijuana for people 21 and older, allow them to possess up to one ounce of marijuana and grow up to six plants at home. California would collect 15% sales tax and tax growers.

“This initiative provides a model for the country,” stated the executive director of the Drug Policy Alliance. “It breaks new ground not just with its pragmatic regulatory provisions but also in directing tax revenue to prevention and treatment for young people, environmental protections and job creation in underserved communities.”

“I am pleased that this thoughtful measure is aligned with the Blue Ribbon Commission’s recommendations, and presents California its best opportunity to improve the status quo by making marijuana difficult for kids to access. It is backed by the broadest coalition of supporters to date and I believe that Californians will rally behind this consensus measure, which also serves to strengthen law enforcement, respect local preferences, protect public health and public safety, and restore the environment,” stated California Lieutenant Governor Gavin Newsom.