On February 1, Senators Cory Booker and Ron Wyden, alongside Senate Majority Leader Chuck Schumer issued a joint statement announcing that marijuana reform bills would be merged as Congress moves toward some type of federal cannabis legalization.
In the wake of this announcement, the cannabis industry soared. Hopes are larger than ever that we are on the brink of widepsread cannabis reform in the United States and this would clearly have massive implications for the international marketplace and in turn, investment in the sector.
The statement from these Senators echoed the sentiment of the Marijuana Chance Reinvestment and Expungement (Much more) Act that passed the U.S. Property of Representatives late final year. It focused on the social equity viewpoint and disproportionate criminalization of folks of colour in the War on Drugs. Additional, that federal marijuana prohibition is essential to course right, as nicely as measures that assist elevate these who had been unfairly targeted in the War on Drugs.
Provided the Biden Administration’s prospective cannabis reform policy positions, and that the Senate is split with the Vice-President as the tiebreaker, the U.S. appears on the cusp of federal cannabis reform. [Read more at Forbes]