November of this year is a big time not just for the USA but for marijuana stocks as well. As of now, it is up in the air as to who will win the democratic nomination and who will eventually win the presidency. It’s worth considering all angles to the potential election outcomes so investors can deduce what pot stocks may do in the near future. In terms of the best outcome, Bernie Sanders seems to be the most positive about legalizing cannabis. But, currently, it does not look like his chances are all that great when stacked up against the other candidates.
After several democratic debates, Bernie Sander’s stance on cannabis is quite clear. The senator has stated that he is starkly in favor of both legalizing cannabis and shifting laws to help those who have been affected by poorly crafted cannabis legislation. His plan has several aspects that would be great for the country regarding the cannabis industry and the public at large. Because of this, it is worth considering in greater detail.
Will Marijuana Stocks Be Affected By Sanders Plan To Legalize Cannabis?
Unlike other candidates, Bernie Sanders has laid out a comprehensive plan on how he will defeat cannabis prohibition. In addition to this, his plan lays out several new insights that have not been discussed in other political platforms. The first step of his plan is to use presidential authority to legalize cannabis across all 50 states. With more than 70% of the public in favor of legalizing cannabis, this seems like it could go over quite well. He states that this will be done through executive order, which is not something we have seen used on this large of a scale.
The second aspect of Sanders’ plan is to fix some of the social problems surrounding the prohibition of cannabis over the past several decades. His plan involves going over all of the state and federal convictions related to non-violent marijuana offenses. This could either result in a re-sentencing or in a complete expunge of the individuals’ records. He has stated that he will use federal funding to help deal with states enacting this new measure. This is a measure that many see as a major step in the right direction.
The Other Stages of Sanders’ Plan
After the Nixon era ‘War on Drugs’ which criminalized cannabis in the media as a gateway drug, law enforcement became much stricter surrounding cannabis-related arrests. Because of this, many individuals who are in jail currently, are there despite marijuana being legalized in many of the same states that arrested them in the first place. Sanders stated that “federal funding will be provided to states and cities to partner with organizations that can help develop and operate the expungement determination process.”
The last part of Sander’s plans involves taking the money produced from cannabis legalization and using that to help small businesses and those who wish to get into the industry. This will help to give areas hit hardest by the ‘War on Drugs’, a proper chance at overcoming financial struggles. He states that he will “provide grants to entrepreneurs of color who continue to face discrimination in access to capital.”
Sander’s plan is quite clear and could be a major benefit to the cannabis market. With investors on the edge of their seats waiting to see what happens to the marijuana industry in the next few years, Sanders’ plan represents a new step in the right direction.
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