Republican Lawmakers File Bill To Tax And Regulate Marijuana As Alternative To Democratic Proposals

MJ moment

Several Republican members of Congress on Monday are formally introducing a bill to federally legalize and tax marijuana as an alternative to far-reaching Democratic-led reform proposals and scaled-down GOP cannabis descheduling legislation. Rep. Nancy Mace (R-SC) is sponsoring the bill—titled the States Reform Act—along with five initial Republican cosponsors. It would end federal marijuana prohibition while taking specific steps to ensure that businesses in existing state markets can continue to operate unencumbered by changing federal rules. Unlike more modest measures previously championed by some of Mace’s GOP colleagues, this legislation—an updated draft version of which was obtained by Marijuana Moment over the weekend—represents an attempt to bridge a partisan divide. It does that by incorporating certain equity provisions such as expungements for people with non-violent cannabis convictions and imposing an excise tax, revenue from which would support community reinvestment, law enforcement and Small Business Administration (SBA) activities. Marijuana Moment first reported on an earlier draft version of the bill earlier this month, and it quickly became apparent that industry stakeholders see an opportunity in the Republican-led effort. The reason for that response largely comes down to the fact that there’s skepticism that Democratic-led legalization bills will be able to pass without GOP buy-in. While Democrats hold majorities in both chambers, in addition to controlling the White House, the margins for passage are slim. Along with Mace, the bill is cosponsored by Reps. Tom McClintock (R-CA), Don Young (R-AK), Brian Mast (R-FL), Ken Buck (R-CO) and Peter Meijer (R-MI), according to information obtained by Marijuana Moment ahead of a formal announcement. A press conference on the bill’s introduction is scheduled for Monday afternoon. A Democratic-led bill to end prohibition and promote social equity did clear the House Judiciary Committee in September. And Senate leadership is preparing to file a separate legalization…

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Source : Republican Lawmakers File Bill To Tax And Regulate Marijuana As Alternative To Democratic Proposals

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