Governor Gavin Newsom signed a bill on Monday to roll back cannabis excise taxes in California, aiming to save jobs, keep dispensaries open, and fight the black market, while critics worry about the potential loss in tax revenue affecting other areas.The bill, AB 564, undoes a hike from this summer when rates jumped from 15% to 19%. Starting October 1, the excise tax will drop back down to 15% and remain there through 2028.Sahand Sultan-Qurraie, owner of Rare Earth Botica, said, “It was definitely hurting. And we were waiting to see what they were going to do with this, tax change.”Critics warn that lowering the tax could shrink funding for programs like childcare, education, and community reinvestment. Andrew Castro, a cannabis consumer, expressed concern, saying, “I’m just kind of a weary, you know, that it’s going to tip over on the other end. In other areas for sure.”For cannabis shops and growers, the tax cut means survival. Many argue that the state’s high taxes push customers to the illicit market, where products aren’t tested or regulated. Supporters call this rollback a lifeline for thousands of workers and hundreds of small businesses.Anthony Gonzalez, owner of OTC Monterey, said, “There’s so many brands in California that are struggling right now, to survive. And so for those brands, being able to sell more products at the retail level will hopefully allow them to survive. So we’re excited about it. It’s a kind of relief our industry needs.”The new rate will take effect on October 1.