Sen. Schumer on Legal Cannabis Plan: “I Will Use My Clout as Majority Leader To Make This a Priority in the Senate”
Schumer said the votes aren’t yet there for the Cannabis Administration and Opportunity Act, which he and Sens. Cory Booker and Ron Wyden formally announced on Wednesday.
Sens. Schumer, Wyden, and Booker Release Most Comprehensive Cannabis Reform Proposal Yet. Here Are the Details.
The Senators are starting with a “discussion draft” ahead of a bill, which is an unprecedented approach for federal cannabis law reform. Public comment will be open until September.
The Cannabis Administration and Opportunity Act is expected to be the most comprehensive reform proposal ever introduced.
The bill’s drafters are seeking to shift from a punitive approach to a public health-focused one, a move supported by a majority of Americans.
While the bill passed out of the House in December, it still faces a steep climb in the new Congress. And, all eyes remain on another, more comprehensive reform bill, expected soon.
But, all eyes are on a bill to come from Senate Majority Leader Chuck Schumer that is expected to be the most comprehensive cannabis reform legislation yet.
While the House vote was expected, it remains less clear whether the Senate will pass the SAFE Banking Act, which would provide safe harbor to banks wanting to work with the cannabis industry.
Just over three months into 2021, at least three powerful groups have formed to push Congress on cannabis legalization.
The SAFE Banking Act, reintroduced this week, would expand the cannabis industry and move it away from a cash-only business, which lawmakers describe as a “public safety crisis.”
The bill offers a narrow fix for one of the cannabis industry’s biggest hurdles: access to banking. It does not address other areas of cannabis law reform, like expungement or equity.
The cannabis industry has fielded business disasters, from fires to COVID-19, mostly without the types of insurance other businesses are afforded. That could change.
Today, there are more cannabis-focused groups than ever before. Now, coalitions are forming to unify those groups and to streamline cannabis conversations with Congress members.
Major legislation has a chance to get through Congress, but will advocates push in the same direction?
A Republican-controlled Senate has proven to be a hurdle for cannabis legislation in Congress. Now that the Georgia runoff elections handed control to Democrats, the path has been cleared.
This is not the same research bill passed in the House earlier this month. It is unclear whether the House will take up the Senate version in the days before Congress’ session ends.
The bill expands the federal cannabis research supply and allows researchers to use cannabis from state-legal entities. It is the second cannabis bill the House has passed this month.