US Senators Unveil Cannabis Legalization Bill

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A long-awaited Senate bill that would legalize cannabis at the federal level has finally been unveiled. Senate Majority Leader Chuck Schumer said since February that the new legislation was almost ready to drop. This week released the first draft of the cannabis legalization bill that he has penned along with Senators Ron Wyden and Cory Booker. Related Post Will The Democrat-Controlled Senate Legalise Cannabis? What’s In The New Cannabis Legalization Bill? Known as the Cannabis Administration and Opportunity Act, the new legalization bill would federally deschedule cannabis, thus removing it from the Controlled Substances Act. This would make it legal for adults over the age of 21 to purchase up to ten ounces of weed at a time while also expunging prior cannabis-related convictions. The bill has been specifically designed to repair the harms caused by prohibition and promote social equity. It contains several clauses that aim to benefit those who have been most affected by criminalization. For example, taxes raised from cannabis sales after legalization would be channeled into three separate grant programs, all of which are intended to level the playing field and give disadvantaged communities a leg up. The first of these would provide job training, legal aid, and other services to those who have been historically targeted by the War on Drugs, while the other two would provide business loans and other funds to individuals from these communities, thereby removing some of the barriers to entry into the legal cannabis market. Smaller cannabis businesses would also pay 50 percent less tax, thus ensuring they can compete with the larger corporations. The new cannabis legalization bill would also remove regulatory authority over cannabis from the Drug Enforcement Administration (DEA) instead of placing this power in the hands of the Food and Drug Administration (FDA) and other related…

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