Senate Democrats propose legalizing cannabis at the federal level

preview_player
Показать описание

Senate Majority Leader Chuck Schumer proposed legislation Wednesday to legalize marijuana at the federal level, a move aimed at easing restrictive drug policies that have disproportionally impacted communities of color and the poor.

The Cannabis Administration and Opportunity Act would remove marijuana from the Controlled Substances Act and introduce regulations to tax cannabis products.

The proposal would expunge federal records of nonviolent cannabis offenders and allow people serving time in federal prison for nonviolent marijuana crimes to petition a court for resentencing.

“This is monumental. At long last, we are taking steps in the Senate to right the wrongs of the failed war on drugs,” Schumer, D-N.Y., said during a press conference at the Capitol. Schumer unveiled the draft along with Senate Finance Committee Chair Ron Wyden, D-Ore., and Senator Cory Booker, D-N.J.

The plan would also create an Opportunity Trust Fund from new cannabis tax revenue in order to invest in programs for communities most affected by the “failed War on Drugs,” according to a draft of the bill.

The plan to decriminalize marijuana will likely face a contentious battle in the Senate, as it’s generally opposed by Republicans and some moderate Democrats and has not received an endorsement from President Joe Biden. Schumer will require 60 votes, including at least 10 GOP votes, to pass it through the Senate.

So far, 37 states and the District of Columbia have legalized the medical use of cannabis and 18 states along with D.C. have legalized recreational use of the drug by adults. However, the drug remains illegal under federal law.

Public polling shows that nearly 70% of Americans support legalizing the drug.

“For decades, our federal government has waged a War on Drugs that has unfairly impacted low-income communities and communities of color,” Booker said in a statement. “While red and blue states across the country continue to legalize marijuana, the federal government continues to lag woefully behind. It is time for Congress to end the federal marijuana prohibition and reinvest in communities most impacted by the failed War on Drugs.”

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.


Connect with CNBC News Online

#CNBC
#CNBCTV
Рекомендации по теме
Комментарии
Автор

Cannabis should have been legalized long ago. The war on drugs has been a huge failure.

danielhady
Автор

It's about time. If you tax Americans then they should be able to purchase what they want. Ole slave mill.

zekethetank
Автор

i hope they do, but of course they will only do it if they make a profit from it. god forbid they just give the american public something without a catch. how about just abolishing the racist Marijuana Act of 1937. since this country is so set on getting rid of "systemic racism", how about we start with the most blatantly racist law on the books.... marijuana act of 1937?

shadowsilverlight
Автор

Your allowed to choose whether to consume synthetic drugs, but yet its against the law to choose a natural one. Makes sense only to a fool

qualityorganics
Автор

I'll believe it when it happens. They've been saying this for decades.

Brad-jzmi
Автор

25% tax? OMG it's about time to have another tea party!

denverdailynewsandreviews
Автор

They figure it'll get them more votes... Those taxes won't stand...

NaySayersRanch
Автор

Legalize everything and let natural selection take its course.😒

toobzombe
Автор

This is still just a talking point. The lies never stop.

iwalkincircles
Автор

Please do this in my life time. Its sad my dad missed all of this. Its been a long time a coming!

jamestankersley
Автор

There should be no tax for those who use it for pain, seizures or other medical reasons

SillyGrandma
Автор

how the hell is weed still a schedule 1 drug?

cliffy
Автор

I wish people would really understand the difference between legalization and decriminalizing. Because they are NOT THE SAME! One means it is legal like alcohol, tobacco, etc. The other means you can still face hefty FINES and it can be taken away from you.. Which one would you prefer? For me, it sure is not the latter.

GJJFan
Автор

I'm not a war on drugs it's a war on personal freedom keep that in your mind at all times....thank you.-bill hicks

collier
Автор

It's always about money. They will legalize if they can make money.

reckersworld
Автор

Should have been done long ago. If they would use the money made off of taxing it to pay toward the national debt then I think that would be a good idea.

americanpatriot
Автор

Only time I’ve ever agreed with Democrats

justwatching
Автор

The minimum age for smoking Cannabis should be 18, alongside the drinking age and tobacco smoking age. A minimum age of 21 is discriminatory against young adults who are 18-20 years old. This bill to legalize Cannabis at the federal level throws people who are 18-20 years old under the bus. It's time to stop treating those who are 18-20 years old like children and start treating them like adults. This bill should not be supported unless the minimum age for smoking Cannabis is lowered to 18 in the bill.

EdwinBonilla
Автор

Call your representatives and demand legalization or there WILL be protests!

tonybelfast
Автор

If warren buffet can makes few billions dollars a week from this it will happen immediately

Revthru