*By Carlo Versano* Sensing the shifting political winds, New York Gov. Andrew Cuomo is reportedly planning to introduce a "green new deal" that would legalize recreational pot as part of the inaugural speech he will [deliver](https://www.nydailynews.com/news/politics/ny-pol-cuomo-budget-state-of-state-addresses-20181209-story.html) from Ellis Island on New Year's Day. Michael Gianaris, a New York state senator from Queens and member of the new Democratic majority in Albany, told Cheddar that "the time has come" for the Empire State to move forward on pot legalization. "It's something that people are doing anyway," he said, arguing that the tax revenue generated from pot sales could help act as a form of "recompense" for minority communities adversely affected by decades of Draconian drug laws. Will Bredderman of Crain's New York Business has been [covering](https://www.crainsnewyork.com/politics/cuomo-reveal-green-new-deal-marijuana-states-2019-agenda) Cuomo's changing attitudes on marijuana, which the governor called a "gateway drug" just last year. Now, with the state senate in the hands of Democrats after being controlled by Republicans more or less uninterrupted since the 1970s, liberal groups see this as the moment to chalk up a "fairly easy win" on an issue held dear to many progressives, according to Bredderman. If New York legalizes marijuana for recreational use, experts believe it could bring in somewhere between $200 million and $700 million a year. That sounds like a lot, but think of it like this: the plan to modernize New York City's failing subway system calls for $40 *billion* in funding. "It's really not that much money," Bredderman said. The bigger gain would be in jobs created and income tax generated ー from growing facilities to retail dispensaries. "That has potential to be quite large." There's also what Bredderman called the "spin-off effects" from taking pot off the black market and easing enforcement of low-level marijuana offenses, which some state DAs have already committed to doing. For Cuomo, the real win would be in the realm of politics, especially after the primary, in which he easily dispatched challenger Cynthia Nixon but was pressured by her supporters to move leftward for his final term in office. Marijuana legalization in a state like New York is likely to have bipartisan support, Bredderman said, and is widely popular among New Yorkers across demographics. "A lot of people smoke marijuana," he said. For full interview [click here](https://cheddar.com/videos/will-new-york-be-next-to-legalize-recreational-marijuana).

Share:
More In Politics
Robinhood Bullish on Biden Crypto Executive Order
Stock trading app Robinhood already has been offering cryptocurrency investments but seems further excited about the asset class following President Biden's recent announcement of an executive order. Dan Gallagher, the chief legal and corporate affairs officer for Robinhood, joined Cheddar News to talk about the White House's tentative vision for digital currency. "I think this executive order firmly states that, yes, crypto is here to stay, which it talks about the important competitive issues around crypto and how the United States needs to be a leader, a global leader, in innovation and technology regarding crypto," he said. Gallagher also discussed having clarity around meme stocks going forward but worried about overregulation slowing down innovation.
Biden Economic Adviser Addresses Inflation Jump Amid Ukraine Crisis
As Russia’s attack on Ukraine, the latest inflation report showed the consumer price index rose 7.9 percent — a 40-year high. Heather Boushey, a member of the White House Council of Economic Advisers, joined Cheddar News to discuss what American consumers might be in store for as prices keep rising. "Forecasters at this point believe that the American economy will be resilient," she said. "They’re still predicting that the unemployment rate will continue to be lower at the end of the year than it is today, and we are still seeing folks believe that over time prices will come back down." Boushey did note that it would be dependent on how long the current situation lasts.
Will Ukraine Join The EU?
Simon Shuster, TIME's Moscow correspondent joins Cheddar to discuss how Ukraine could become part of the EU and what it would mean for politics in Europe.
Russian Oil Ban Will 'Force a Transition' to Renewables, Says Caravel Concepts CEO
President Biden has banned imports of Russian oil to the U.S. in retaliation for its invasion of Ukraine. The president warned of higher prices at the gas pump, leading some analysts to think it could propel the transition to clean, renewable energy. Michael Jones, chairman and CEO of investment solutions company Caravel Concepts, discussed how the ban is hitting green energy stocks as gas prices continue to surge. "I think the 10-year prospects for renewables just got a whole lot better because ultimately this is going to force a transition into renewables," he said.
How the Russia-Ukraine War Will Impact International Travel
Amid ongoing tensions in the Russia-Ukraine region, many American travelers are nervous about traveling to Europe. It comes at a time when international travel was set to make a comeback, but uncertainty surrounding the conflict may delay the overall recovery. Francesca Page, Travel Expert, joined Cheddar's Opening Bell to discuss.
Tensions in Russia, Ukraine Threaten Global Food Supply
Russia's invasion of Ukraine is coming for the global food supply. Ongoing tensions in the region are threatening the supply of various agricultural products including wheat, barley and corn. Vladik Rikhter, CEO & Cofounder of Zenput joined Cheddar's Opening Bell to discuss how this could impact food prices overseas.
Stocks Soar on Wednesday, Nasdaq Posts Best Day Since March 2021
Adam Johnson, Portfolio Manager at Adviser Investments, joins Cheddar News' Closing Bell, where he explains why he believes we saw markets jump during Wednesday's session, and adds that investors have already priced in 'every possible kind of bad news we could have.'
Load More