The Conference Board, a business research group, on Tuesday released the June update for its consumer confidence index.Economyread more
The Congressional Budget Office estimated Tuesday that the national debt will rise to 141% of the economy over the next 30 years — 11 percentage points lower than the agency...Economyread more
Investors are piling into gold, sending the precious metal to a six-year high on Monday, and analysts think the commodity has established a base to go even higher.Marketsread more
Trump slams Iran on Twitter for issuing a "very ignorant and insulting statement" after the U.S. slapped fresh sanctions on Tehran.Politicsread more
The yield on the benchmark 10-year Treasury note fell below 2% on Tuesday as investors looked for safety following the release of much weaker-than-expected confidence data.Bondsread more
More than 150,000 former students of for-profit colleges filed a lawsuit against the U.S. Department of Education and Education Secretary Betsy DeVos on Tuesday, claiming the...Personal Financeread more
Investors plow into the precious metal amid the prospects for lower interest rates, a softer global economy and increased geopolitical tensions.Marketsread more
Amazon announces that Amazon Prime Day will last for two days, starting July 15.Technologyread more
Buyers pulled away from the builders in May, even as affordability improved, thanks to lower mortgage rates.Real Estateread more
Allergan shareholders will receive 0.8660 AbbVie shares and $120.30 in cash for each share held, for a total value of $188.24 per Allergan share.Biotech and Pharmaceuticalsread more
CNBC's Carl Quintanilla reports from Hanoi, ahead of the Trump-Xi trade meeting, to look at Vietnam's manufacturing boom and whether it can be sustained.Economyread more
Colorado made roughly $2 million in marijuana taxes in January, state revenue officials reported Monday in the world's first accounting of the recreational pot business.
The tax total reported by the state Department of Revenue indicates $14.02 million worth of recreational pot was sold. The state collected roughly $2.01 million in taxes.
Colorado legalized pot in 2012, but the commercial sale of marijuana didn't begin until January. Washington state sales begin in coming months.
The pot taxes come from 12.9 percent sales taxes and 15 percent excise taxes. Voters approved the pot taxes last year. They declared that the first $40 million of the excise tax must go to school construction; the rest will be spent by state lawmakers.
(Read more: )
Colorado has about 160 state-licensed recreational marijuana stores, though local licensing kept some from opening in January. Local governments also have the ability to levy additional pot sales taxes if they wish.
Monday's tax release intensified lobbying over how Colorado should spend its pot money. Budget-writers expect the nascent marijuana industry to be extremely volatile for several years, making lawmakers nervous about how to spend the windfall.
Budget-writing lawmakers joke that plenty of interests have their hands out to get a piece of the pot windfall.
Gov. John Hickenlooper has already sent the Legislature a detailed $134 million proposal for spending recreational and medical marijuana money, including new spending on anti-drug messaging to kids and more advertising discouraging driving while high.
State police chiefs have asked for more money, too.
(Read more: As seen on TV: First pot-related ads now on cable)
"The whole world wants to belly up to this trough," said Sen. Pat Steadman, a Denver Democrat who serves on Colorado's budget-writing Joint Budget Committee.
Other countries also are watching Colorado, which has the world's first fully regulated recreational marijuana market. The Netherlands has legal sales of pot but does not allow growing or distribution. Uruguay's marijuana program is still under development.
Colorado's pot revenue picture is further complicated by the state's unique budget constraints, known as the Taxpayers' Bill of Rights.
The Bill of Rights not only requires voter approval for tax increases, it limits budget-writers when those taxes earn more than the figure posed to voters. Last year's pot vote guessed that the taxes would produce $70 million a year, and it's not clear what lawmakers can do with tax money that exceeds that figure.
(Watch more: Marijuana candy bars)
Colorado's JBC plans a Wednesday briefing with lawyers to lay out their options for spending pot taxes beyond $70 million.
"There probably is a tendency to want to just grab on to this revenue from marijuana and feed my own pet projects, and I don't think it's going to be that simple," said Sen. Kent Lambert, R-Colorado Springs and another JBC member.
Colorado's 2014-15 budget is under debate now and does not include any anticipated recreational marijuana taxes.