Crime is a byproduct of poverty, which is why the solution to both are unprecedented investments into new and modern career opportunities in emerging industries for low-income people.
Juan Aguirre envisions a more equitable and safer Illinois realized by legislation introduced in the Illinois Legislature to create and fund a “Legacy to Legal” Cannabis Licensing program. Aguirre's endorsed Illinois House and Illinois Senate candidates have pledged their commitment to introduce legislation in Springfield to create the regulatory framework to distribute these business licenses. The legislation would also pull money from the State's surplus of R3 funds (a portion of the state's cannabis tax revenue) to provide capital investment for "legacy to legal" entrepreneurs to become and remain operational.
It is extremely difficult to become and remain operational in the legal cannabis industry because banks cannot provide loans to cannabis companies. Banks cannot provide loans to cannabis companies because cannabis is still federally illegal.
Furthermore, the cannabis industry requires expertise in nimble business operations due to the fact that cannabis businesses are taxed at 70% effective rate as a result of IRS Tax Code 280E. IRS Tax Code 280E prohibits state-licensed cannabis companies from deducting normal businesses expenses due to the fact that cannabis is still federally illegal (schedule 1 controlled substance).
With the proper capital investment behind the "Legacy to Legal" licensing program, an increase in the number of cannabis businesses owned by working class people would not only create generational wealth in the south and west sides of the city, but would also create thousands of new, high paying careers in the cannabis industry.
Career opportunities in the cannabis industry are not only limited to plant-touching operations, but also intersect numerous ancillary industries, such as real estate, science and healthcare, and technology for operating systems, inventory management, marketing, and packaging practices.
Aguirre's endorsed candidates are committed to passing a Legacy to Legal Cannabis Licensing Program that will succeed in economically uplifting disenfranchised neighborhoods where the State of Illinois’ Social Equity Licensing program, established by the 2019 Illinois Cannabis Regulation and Tax Act (CRTA), failed. Endorsed candidates are committed to championing legislation that will realize new career opportunities for communities that have historically suffered from disproportionate enforcement of cannabis prohibition.
