Boost to Federal Marijuana Legalization as Bill Reintroduced to Congress

Boost to Federal Marijuana Legalization as Bill Reintroduced to Congress

A bill seeking to legalize marijuana and build social equity has been brought to the U.S House, according to Marijuana Moment. Sponsored by Judiciary Committee Chair Jerrold Nadler, the legislation carries a few changes from the one approved by the chamber in 2020.

If approved, the revised legislation will see marijuana removed from Controlled Substances Act, providing a relief to individuals found guilty of dealing in cannabis products.

A federally imposed levy on marijuana would be introduced, with proceeds supporting community programs.

Reintroduction of the bill comes as the Senate considers a different proposal with the same intentions.

With Democrats controlling both House chambers, advocates are hopeful of the new legislation.

Nadler feels it’s time to legalize marijuana, with many states having done so.

Advocates, though satisfied with the revisions to the current bill, expect more component changes.

Most marijuana stocks posted gains on Friday close. ACB is up 6.56%, TLRY is down 2.91%, WEED is up 6.14%

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This Post Has One Comment

  1. Bob2121

    Pretty sure Biden already said “No way!” to weed legalization, so this is just nonsense.

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