Will Federal Cannabis Reform Pass This Time Around?

A federal cannabis reform bill is set to be reintroduced to the house this upcoming week. This bill will be to federally legalize marijuana and promote social equity in the cannabis industry. This federal reform bill is sponsored by Judiciary Committee Chairman Jerrold Nadler. Furthermore, this bill was filed with several modifications compared to the version that was passed by the chamber in 2020.

This cannabis reform bill would eliminate cannabis from the Controlled Substances Act (CSA). As well as allow people with past cannabis crimes to have their records expunged. In addition to creating a federal tax on cannabis with the revenue going to support community reinvestment and other programs. This is all comes as heads of the Senate get ready to introduce a separate reform proposal with similar goals.

The Marijuana Opportunity, Reinvestment and Expungement  Act passed the House. However, the MORE Act did not pass in the Senate under GOP control. 

Yet this time around, advocates are confident that the policy change could be enacted. Especially with the Democrats running both chambers and the White House. As well as more states are moving to legalize marijuana.

“Since I introduced the MORE Act last Congress, numerous states across the nation, including my home state of New York, have moved to legalize marijuana. Our federal laws must keep up with this pace,” Nadler said. “I’m proud to reintroduce the MORE Act to decriminalize marijuana at the federal level, remove the needless burden of marijuana convictions on so many Americans, and invest in communities that have been disproportionately harmed by the War on Drugs.”

The Next Step For Federal Cannabis Reform In 2021

The revised version of the MORE Act does not incorporate literature that was added just before 2020’s House floor vote. Which would have stopped people with prior cannabis crimes from receiving federal permits to operate marijuana businesses. That was a contentious stipulation that showed up on short notice and which advocates strongly were against.

Furthermore, the previous version of the MORE Act contained language to help economically disadvantaged people enter the legal marijuana market. That literature was amended to reach Small Business Administration aid such as loans, financial literacy programs, and employment education. Which would be used to aid people who have been hurt by the war on drugs pursue business opportunities in various industry, beyond just marijuana. All Time Highs For Marijuana Stocks in 2021

Many of the other key stipulations of the legislation have been kept the same as in the version that cleared the House last year. This includes language to create a road for resentencing for those incarcerated for marijuana offenses. Also, protect foreigners from being refused citizenship over cannabis. As well as stopping federal law enforcement from withholding public aids or security clearance due to its use.

[Read More] Top CBD Marijuana Stocks To Invest In? 2 For Your 2021 Watchlist

Pushing Forward On Cannabis Reform

Advocates are supported by the new amendments to this legislation. Yet there are still further components they hope to see improved as it goes through the legislative process. For instance, they also saw concerns with provisions added to the MORE Act prior to last year’s vote. Which would have specified that marijuana can still be incorporated in drug testing programs. Mainly for those who are employed by the federal government.

“With the majority of Americans in favor of marijuana legalization for adult use, and the way in which communities of color have been devastated by prohibition finally being widely acknowledged, prioritizing marijuana reform that begins to undo this harm and give back to those communities should be a no-brainer,” Queen Adesuyi, policy manager for the Drug Policy Alliance’s (DPA) Office of National Affairs, said.

[Read More] 2 Biotech Cannabis Stocks To Watch In June 2021

Final Thoughts On Federal Cannabis Reform 

“With the majority of Americans in favor of marijuana legalization for adult use, and the way in which communities of color have been devastated by prohibition finally being widely acknowledged, prioritizing marijuana reform that begins to undo this harm and give back to those communities should be a no-brainer,” Queen Adesuyi, policy manager for the Drug Policy Alliance’s (DPA) Office of National Affairs, said.

“We are grateful that not only was this bill reintroduced so early in the session, but that the exclusionary language that ended up getting added in through the political process last year was removed,” she said. “This bill is meant to comprehensively address the widespread harms of prohibition, and it is impossible to do that if we are still leaving those that have already paid the steepest price out. We urge House Leadership to bring this bill to the floor without delay.”

It’s been two months since Nadler first announced his intent to reintroduce the MORE Act. This bill would federally reschedule marijuana on a retroactive basis and allow those with prior cannabis convictions to have their records expunged.

Maritza Perez, director of DPA’s Office of National Affairs, said it’s “clear, by the overwhelming extent to which they passed the MORE Act last session, that the House understands this for the urgent racial and social justice issue it is.”

“Our communities that have borne the brunt of marijuana prohibition have waited long enough for justice,” she said. “We urge House leadership to move swiftly to bring the bill back to the floor this session, so that we can continue the momentum and move a marijuana justice bill in the Senate as well.”

Meanwhile, Senate leadership is also preparing to file legalization legislation that’s anticipated to include similar social equity components.

 


MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

*UPDATED* Timing in Marijuana Stocks is Everything & Our Time is Tuesday February 18, 2020, @ 9:45 am EST!

Tuesday, February 18, 2020, @ 9:45 am EST we will be announcing…

Marijuana Stocks – The Current State of the Cannabis Sector from the Wolf of Weed Street aka Jason Spatafora

The Current State of the Cannabis Sector As we’ve begun 2020 after…