Republican Reps Introduce Federal Cannabis Legalization Legislation

On the #domestic front, two #Republican lawmakers introduce a federal #marijuana legalization proposal, amid increasing calls for nationwide change. The Common Sense #Cannabis #Reform for #Veterans, Small #Businesses, and #Medical #Professionals Act, which is sponsored by #GOP reps and co-chairs of the #Congressional Cannabis #Caucus David Joyce and Don Young, would remove marijuana from the Controlled #Substances Act, leaving it up to states to enact their own policies in an approach similar to how #alcohol is regulated. It would further permit interstate commerce among legal #markets, charge the #FDA and the Alcohol and #Tobacco Trade and #Tax Bureau with establishing specific rules, as well as mandate #MMJ research by the National Institutes of #Health. It also includes protections for veterans using medical cannabis, as well as financial institutions serving licensed marijuana companies, as outlined in the recently #House-passed standalone bill, the SAFE Banking Act. While Joyce anticipates bipartisan support for the proposal, citing reform efforts in more than 40 states, industry experts expect the bill to receive significant pushback from advocates over its lack of social #equity provisions. In contrast, the MORE Act, which cleared the House last year but was never taken up by the then #Republican-controlled #Senate, contained a number of such elements, like record expungements for those with past cannabis-related convictions and reinvestment into communities most impacted by the war on drugs. Senate majority leader Chuck Schumer, along with fellow #Democrats Cory Booker and Ron Wyden, are planning to incorporate social equity components into their own comprehensive legalization legislation, which has been highly publicized but not yet released. Some speculate the Republican-backed measure may now enjoy a first mover #advantage, even taking into #account potential criticisms, while others say the move is simply political posturing that’s unlikely to succeed. What do you think? Let us know online at Cannabis Broadcast Station.

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William Bradley

William Bradley

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