Latest news with #MattHaney
Yahoo
05-06-2025
- Business
- Yahoo
California State Assembly Approves Bill Pausing Tax Hike on Legal Cannabis Retailers
California State Assembly Approves Bill Pausing Tax Hike on Legal Cannabis Retailers originally appeared on L.A. Mag. The California State Assembly unanimously voted on Monday to halt a slated 25% tax increase on the cannabis industry from going into effect on July a 74-0 vote, the Assembly approved AB564 by Asm. Matt Haney (D-San Francisco). The bill would prevent the retail excise tax from increasing to 19% from its current 15%."If we continue to pile on more taxes and fees onto our struggling small cannabis businesses, California's cannabis culture is under serious threat of extinction," Haney said in a to SFGATE, taxable cannabis sales in California amounted to $1.088 billion in 2025's first quarter, the lowest in five years. The figure also represents an 11% drop compared to the same quarter in 2024, marking the largest decline in legal cannabis sales in state are responsible for paying the tax regardless of consumer sales. Haney attributes the steady growth of cannabis sales in other states, such as Colorado and Michigan, to lower taxes and fewer barriers for businesses and consumers. "If we want to support our cannabis industry that drives millions of visitors to California every year, adding more costs makes absolutely no sense," said Haney."Nearly a decade after Californians overwhelmingly approved cannabis legalization, the industry is struggling under the crushing weight of a 15% excise tax,' said Caren Woodson, president of the California Cannabis Industry Association. 'Any increase, particularly a 25% increase, would not only be bad public policy, but devastating to operators already on the brink.'In 2016, voters passed Proposition 64 to legalize the possession, cultivation and sale of cannabis for recreational use with an initial retail excise tax of 15%.A 2022 law eliminated California's cultivation tax, making the excise tax adjustable to generate equivalent revenue. The new bill would eliminate the law's requirement to adjust the excise tax will go to the State Senate for consideration. This story was originally reported by L.A. Mag on Jun 4, 2025, where it first appeared.
CBS News
03-06-2025
- Business
- CBS News
California lawmakers approve pausing 25% tax increase on legal cannabis industry
California lawmakers on Monday unanimously approved a bill that would pause an impending 25% tax increase on the state's legal cannabis industry, as it struggles to compete with the black market. In a 74-0 vote, the Assembly approved AB564 by Asm. Matt Haney (D-San Francisco). AB654 would prevent the tax increase, scheduled for July 1, from going into effect. "If we continue to pile on more taxes and fees onto our struggling small cannabis businesses, California's cannabis culture is under serious threat of extinction," Haney said in a statement. According to Haney's office, the state's licensed cannabis market is in a "sharp decline" with plummeting sales and tax revenue. Other states such as Michigan, are reporting steady growth in cannabis sales, which he credits to lower taxes and fewer barriers. "If we want to support our cannabis industry that drives millions of visitors to California every year, adding more costs makes absolutely no sense," the assemblymember added. In 2016, voters approved Proposition 64, which legalized the possession, cultivation and sale of cannabis for recreational use, along with a 15% retail excise tax. "Nearly a decade after Californians overwhelmingly approved cannabis legalization, the industry is struggling under the crushing weight of a 15% excise tax. Any increase, particularly a 25% increase, would not only be bad public policy, but devastating to operators already on the brink," said Caren Woodson, who is president of the California Cannabis Industry Association. AB564 now goes to the State Senate for consideration.
New York Post
30-05-2025
- Science
- New York Post
Massive volcano eruption is imminent amid earthquake surge, leaving major US city on high alert, scientists fear
Is it going to blow — or blow over? Seismic activity levels on Alaska's Mount Spurr soared to March levels earlier this week, sparking fear that an eruption could be on the horizon. 'Earthquake activity beneath Mount Spurr remains elevated,' the Alaska Volcano Observatory (AVO) warned in a May 28 report. 'Following a steady decline from late March through April, shallow earthquake activity has increased in the past two weeks to March levels of about 100 events per week.' Advertisement And while the advisory assured that the 'likelihood of an eruption continues to gradually decline,' the 11,000-foot volcano remains at an 'elevated state of unrest,' meaning that an 'explosive eruption' is still possible. 4 A roiling eruption column rising from Mount Spurr's Crater Peak vent during its Aug. 18, 1992, eruption. R.G. McGimsey, /, Alaska Volcano Observatory 'We're not out of the woods yet, by any means,' Matt Haney, a researcher with the Alaska Volcano Observatory, told Alaska Public Media. 'There's still earthquakes happening at Mount Spurr.' Advertisement However, an AVO report on May 29 found that while 'low-level unrest continues, no changes have been observed in the monitoring data to indicate that the volcano is moving closer to an eruption.' 'If an eruption occurred, it would be preceded by additional signals allowing warning,' they said. If an eruption were to occur, it would likely send a spout of ash shooting as high as 50,000 feet into the air, Haney previously told the Daily Mail, adding that the resulting cloud could cover the neighboring city of Anchorage. Spurr has been on officials' radar since April 2024, when they observed a spike in seismic activity. Advertisement 4 Mount Spurr. 'We're not out of the woods yet, by any means,' researcher Matt Haney saud. 'There's still earthquakes happening at Mount Spurr.' Matt Loewen / Alaska Volcano Observatory/ USGS By October, the rate of tremors had soared from 30 per week to 125 per week. The recent return to those levels has raised alarm bells. Meanwhile, a gas measurement probe from May 23 found that emissions were slightly lower, but within the 'uncertainty bounds' of those measured during the last gas analysis on April 24. They wrote that 'CO2 values' from the volcano's vents remain at 'above background' levels which could indicate the presence of magma underneath the surface. Advertisement However, AVO noted these levels were similar to the readings in 2004 and 2006, a similar period of activity when Spurr didn't blow its stack. 4 Chart detailing earthquake activity and deformation at Mount Spurr from Sept. 1, 2023, to May 23, 2025. 4 The summit of Mount Spurr on Oct. 24, 2024. AP Alaskans likely won't need to batten down the hatches just yet. 'The pause in deformation suggests' that the shallow intrusion of magma 'over the past 17 months has stalled,' according to the agency. 'This intrusion of magma could still lead to an eruption, but gas and earthquake activity do not clearly indicate an unstable or pressurizing system.' A Spurr eruption, the AVO said, would likely be nearly identical to eruptions in 1953 and 1992, which involved explosive events that lasted several hours and produced ash clouds that traveled hundreds of miles and rained ash across southcentral Alaska. Advertisement The latter year's explosion notably blanketed Anchorage with ash, causing officials to shutter the airport. A possible Spurr eruption — which would likely originate from its side vent, called Crater Peak — would also cause mudslides and avalanches of volcanic debris and ash to roar down the mountain at 200 miles per hour. 'Fortunately, there are not any communities in that radius that would be affected,' Haney said. Advertisement
Daily Mail
30-05-2025
- Climate
- Daily Mail
Huge volcano shows signs of imminent eruption after earthquake spike
Officials have detected a surge in earthquake activity at Alaska's Mount Spurr, sparking fears of a potential eruption. The Alaska Volcano Observatory (AVO) reported that seismic activity has returned to March levels of about 100 events per week, the same month officials warned the volcano could erupt within weeks. Recent detections of deep earthquakes suggested that magma remains active beneath the volcano. These earthquakes are caused by magma rising toward the surface, putting pressure on the surrounding rock and causing it to crack. While the AVO said that the likelihood of an eruption is gradually declining, it cautioned that 'the volcano remains at an elevated state of unrest.' 'We're not out of the woods yet, by any means,' Matt Haney, a researcher with the AVO, told Alaska Public Media on Wednesday. 'There's still earthquakes happening at Mount Spurr.' Mount Spurr lies about 78 miles from Anchorage, home to nearly 300,000 people who have begun stocking up on food and protective gear, preparing for the possibility of a sudden eruption. Dave Schneider, a US Geological Survey geophysicist in Anchorage, told Your Alaska Link: 'This sort of frustrating phase for probably a lot of people in the community that that it's either ramping up or ramping down. We're just kind of holding steady.' The volcano's summit crater has not erupted for 5,000 years, experts estimate. But its side vent, called Crater Peak, last erupted just 30 years ago. If Mount Spurr blows again, the eruption will most likely be from this side vent, Haney previously told Officials have been monitoring Mount Spurr since April 2024 when seismic activity kicked off. By October, the rate of quakes increased from an average of 30 per week to 125 per week. While the number of earthquakes have dwindled throughout this year, the activity appears to have ramped up in the last month. 'Earthquake activity beneath Mount Spurr remains elevated. Following a steady decline from late March through April, shallow has increased,' the AVO said. Scientists recently measured gas emissions from Mount Spurr and found that while the levels are a little lower than last month, they are still higher than normal. Both carbon dioxide and sulfur dioxide are being released from the volcano at rates above background levels, signs that magma remains active beneath the surface. The AVO noted that similar levels were observed back in 2004 to 2006, a period of unrest when Mount Spurr did not erupt. Carbon dioxide and sulfur dioxide are natural components of magma, released when molten rock rises toward the surface. The agency added that most magma intrusions, like those observed at Mount Spurr during the 2004 to 2006 unrest, do not lead to eruptions. However, it cautioned that a similar pause in deformation occurred in fall 2024, and magma movement could resume at any time. If the eruption does happen, Mount Spurr would spew multiple plumes of ash rising as high as 50,000 feet into the air, Haney said. Each ash-producing explosive episode would last three to four hours, and the resulting cloud could blanket the city of Anchorage and other nearby communities in a thick layer of dust. The eruption would also produce destructive mudslides and avalanches of volcanic debris racing down the volcano's side at over 200 miles per hour, 'but fortunately, there are not any communities in that radius that would be affected,' Haney said. The AVO said on Wednesday that the eruption would likely be similar to those that occurred in 1953 and 1992 is still possible.' Those past eruptions involved explosive events lasting several hours, generating ash clouds that traveled hundreds of miles and caused minor ashfall, up to about a quarter-inch across southcentral Alaska, according to the agency.
Daily Mail
29-05-2025
- Climate
- Daily Mail
Fears huge volcano is set to ERUPT amid spike in earthquakes... leaving major US city on edge
Officials have detected a surge in earthquake activity at Alaska 's Mount Spurr, sparking renewed fears of a potential eruption. The Alaska Volcano Observatory (AVO) reported that seismic activity has returned to March levels of about 100 events per week, the same month officials warned the volcano could erupt within weeks. Recent detections of deep earthquakes suggested that magma remains active beneath the volcano. These earthquakes are caused by magma rising toward the surface, putting pressure on the surrounding rock and causing it to crack. While the likelihood of an eruption is gradually declining, the AVO cautioned that 'the volcano remains at an elevated state of unrest.' 'We're not out of the woods yet, by any means,' Matt Haney, a researcher with the Alaska Volcano Observatory, told Alaska Public Media on Wednesday. 'There's still earthquakes happening at Mount Spurr.' Mount Spurr lies about 78 miles from Anchorage, home to nearly 300,000 people who have begun stocking up on food and protective gear, preparing for the possibility of a sudden eruption. Dave Schneider, a US Geological Survey geophysicist in Anchorage, told Your Alaska Link: 'This sort of frustrating phase for probably a lot of people in the community that that it's either ramping up or ramping down. We're just kind of holding steady.' The volcano's summit crater hasn't erupted for 5,000 years, experts estimate. But its side vent, called Crater Peak, last erupted just 30 years ago. If Mount Spurr blows again, the eruption will most likely be from this side vent, Haney previously told Officials have been monitoring Mount Spurr since April 2024 when seismic activity kicked off. By October, the rate of quakes increased from an average of 30 per week to 125 per week. While the number of earthquakes have dwindled through this year, the activity appears to have ramped up in the last month. 'Earthquake activity beneath Mount Spurr remains elevated. Following a steady decline from late March through April, shallow has increased,' the AVO said. Scientists recently measured gas emissions from Mount Spurr and found that while the levels are a little lower than last month, they are still higher than normal. Both carbon dioxide and sulfur dioxide are being released from the volcano at rates above background levels, signs that magma remains active beneath the surface. Mount Spurr lies about 78 miles from Anchorage, home to nearly 300,000 people who have begun stocking up on food and protective gear, preparing for the possibility of a sudden eruption The AVO noted that similar levels were observed back in 2004 to 2006, a period of unrest when Mount Spurr did not erupt. Carbon dioxide and sulfur dioxide are natural components of magma, released when molten rock rises toward the surface. However, the AVO has recently detected a pause in ground deformation, suggesting that the shallow magma intrusion has temporarily stalled. 'The pause in deformation suggests that the ascent of magma to shallow levels beneath the volcano over the past 17 months has stalled,' the agency shared. 'This intrusion of magma could still lead to an eruption, but gas and earthquake activity do not clearly indicate an unstable or pressurizing system.' The agency added that most magma intrusions, like those observed at Mount Spurr during the 2004 to 2006 unrest, do not lead to eruptions. However, it cautioned that a similar pause in deformation occurred in fall 2024, and magma movement could resume at any time. If the eruption does happen, Mount Spurr would spew multiple plumes of ash rising as high as 50,000 feet into the air, Haney said. Each ash-producing explosive episode would last three to four hours, and the resulting cloud could blanket the city of Anchorage and other nearby communities in a thick layer of dust. The eruption would also produce destructive mudslides and avalanches of volcanic debris racing down the volcano's side at over 200 miles per hour, 'but fortunately, there are not any communities in that radius that would be affected,' Haney said. The AVO said on Wednesday that the eruption would likely be similar to those that occurred in 1953 and 1992 is still possible.' Those past eruptions involved explosive events lasting several hours, generating ash clouds that traveled hundreds of miles and caused minor ashfall, up to about a quarter-inch across southcentral Alaska, according to the agency.
