Will Jaime Harrison Be A Good Leader For The Democratic National Committee?
Due to all the political craze surrounding cannabis reform the cannabis industry has been pushing up in the market. For instance, with the possibility of the MORE Act passing in the near future marijuana stocks are seeing more momentum than ever before. This has led our future president to take action on some things.
With all the hype and excitement surrounding federal cannabis reform, many are waiting to see how President-elect Joe Biden will respond. Recently Joe Biden has come forth to announce he has selected someone to the Democratic National Committee. This comes after the recent runoff elections where the Democrats are now in control of the Senate.
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The individual Biden has picked is non-other than former South Carolina Democratic Party Chair Jaime Harrison. Many feel this is the best choice as Harrison is a big advocate of cannabis reform with a clearer vision about it than our new president. However much of this is still contingent on the party leader’s ability to confirm this decision.
What If Jaime Harrison Becomes The Leader Of The DNC?
If Jaime Harrison gets the green light he will be responsible for coordinating Democrats’ national political activities. This would have great influence over people come time to push for federal cannabis legislation. Back in 2020, Harrison decided to try his hand for a Senate seat. While on his campaign he was a strong advocate for legalizing cannabis as a way to support racial justice.
“I think we should legalize, regulate and tax marijuana like we do alcohol and tobacco,” he said in July. “There is simply no medical reason to lock people up over this issue. In essence, this is about common sense.”
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“We know that marijuana arrests, including those for simple possession, account for a large number of drug arrests,” he said. “The racial disparities in marijuana enforcement—black men and white men smoke marijuana the same rates, but black men are much more likely to be arrested for marijuana possession—is just unacceptable.”
What Improvements Need To Be Made?
Even though there is huge Democratic support for policy change Biden has maintained his opposing view on legalization. However, he has voiced how he’s in favor of decriminalizing possession legalizing medical cannabis. This is in addition to modest rescheduling, expunging past records. This would also allow states to set their own policies free of federal intervention. If Harris takes over the DNC he would be taking the seat of Tom Perez whose views on the matter have not been the best understood.
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At one point the DNC wasn’t exactly for legalizing cannabis. This past year the organization’s platform committee rejected an amendment that would have made room for more opinions on the matter. Rather the DNC took up a stance similar to Biden. This included decriminalization, rescheduling, medical cannabis legalization, expungements, and allowing state-level reform.
What Will Federal Cannabis Reform Do For The Cannabis Industry?
So now that Senate is controlled by the Democrats and Biden has his choice of DNC leader locked in what’s next? Well for starters if cannabis becomes federally decriminalized it will allow for cannabis companies abroad to come in a take part in the U.S. cannabis industry. Without federal cannabis reform places like Europe and Canada are not able to have a full U.S. operation.
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In addition to more places, the joining the U.S cannabis industry analyst believe it will fuel market momentum and possibly cause more marijuana stocks to rally. Yet one of the more important pieces to federal cannabis legislation is finally having proper banking. Back on September 25, 2019, the House passed what is known as the SAFE Banking Act. This bill would enact a system that would allow financial institutions to start accepting money from cannabis-related businesses.
Final Thoughts On Cannabis Reform
The reason this hasn’t happened yet is cannabis is still illegal in the eyes of the federal government. Yet with the possibility of cannabis being decriminalized on a federal level, we may see the SAFE Banking Act pass. There is a lot of riding on the future of the industry, and getting cannabis reform is the first step. From this point, it will become easier to build more cannabis-related businesses and create new markets. With new markets being created it will help to build a bigger global cannabis industry. So for now all we can sit back and wait to see what unfolds as the cannabis industry goes through this transition.
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