Senate majority leader announces federal cannabis bill

Shortly before a July 14 press conference, Senate Majority Leader Chuck Schumer, Senate Finance Committee Chairman Ron Wyden, and Senator Cory Booker released the details of their long-awaited cannabis reform law, called the Cannabis Administration and Opportunity Act.

The bill envisages a widespread plan to regulate cannabis at multiple levels. If passed, the bill would postpone cannabis, draw up plans for widespread overturning of convictions, and allow states to continue to administer their respective cannabis program policies. It would introduce a federal tax, the money of which would go to people hardest hit by the war on drugs, especially those who want to get into the industry in some way.

Another big change would be to take power away from the Drug Enforcement Administration and instead give control to three different government organizations – mainly the Food and Drug Administration (FDA). The FDA would be recognized as “the primary government regulator with respect to the manufacture and marketing of cannabis products, including requirements for minimum national good manufacturing practice, product standards, registration and listing, and labeling information related to ingredients and directions for use.” . “The Alcohol and Tobacco Tax and Trade Bureau and the Bureau of Alcohol, Tobacco and Firearms would also have more control over taxes and product tracking.

Social justice gets a lot of support in the Senate bill, which aims to overturn all cannabis-related arrests and convictions within a year if the bill is passed. “Communities hardest hit by the cannabis ban are the least likely to benefit from the legacy of racial and ethnic injustices in the legal marijuana market, compounded by the disproportionate side effects of 80 years of cannabis enforcement reads text.

In addition, the draft law provides for three grants that 1.) provide money for programs that help people negatively affected by the war on drugs, 2.) help with loans for small businesses for these “socially and economically disadvantaged people” and 3 .) Establish the Equitable Licensing Grant Program, which would reduce certain requirements for those affected by the war on drugs who want to enter the industry.

Much of the bill is devoted to tax rates and proposes a 10 percent tax in the first year when the bill goes into effect. The tax would rise to 15 percent each year, then to 20 percent, and finally to 25 percent. Small cannabis companies would be supported and would receive a price cut if they had less than $ 20 million in sales in a single year. The bill also details the licensing process for cannabis companies.

The Cannabis Administration and Opportunity Act also includes a host of other details, from determining which government organizations manage which parts of the industry, conducting federal studies to see if changes are needed, a statewide age limit for cannabis use, and redefining cannabis to cannabis .

The Senate’s cannabis law has been in the works for months

This bill took many months to complete. Following the original Senate press release announcing their plans to propose a federal cannabis bill on February 1, Schumer, Wyden, and Booker met virtually on February 5 with people supporting organizations such as NORML, Drug Policy Alliance, and Students for Sensitive Drug Policy represented the National Cannabis Industry Association and Minority Cannabis Business Association.

For about an hour, members of the congregation discussed a variety of topics, from social justice to tax proposals. The three politicians used this time to consider valuable information from cannabis leaders. “I had a great meeting yesterday with @SenBooker, @RonWyden, and leading marijuana justice groups from across the country to work together to develop strategies to end the federal marijuana ban and repair the damage done to communities War on drugs was inflicted, ”Majority Leader Schumer tweeted on February 6th.

“Thank you to @NORML, @DrugPolicyOrg, @CivilRightsOrg, @ACLU, @MinCannBusAssoc, and many more for your work to end the federal marijuana ban, reform the criminal justice system, and ensure justice for communities, especially those with color. affected by the war on drugs! “

In March, Schumer, Wyden and Booker stated that their law wanted to support small businesses in the cannabis industry, while denying power to larger alcohol- and tobacco-based companies vying for part of the cannabis industry. “We don’t want the big tobacco companies and the big liquor companies to step in and take power,” said Schumer. “The legislation we have will ensure that smaller businesses, businesses in colored communities, have the advantage because colored communities have paid the price for decades. You should at least get something back. “

Throughout the year, Schumer has spoken frequently of the need for cannabis reform, stating that with or without the support of President Joe Biden, he would like to continue state legalization. “We will move forward,” Schumer told Politico in an interview. “[President Biden] said he is studying the subject, so [I] obviously wants to give him some time to study it. I want to bring my arguments to him, as many other proponents will. But at some point we will make progress, period. “

Schumer, Wyden and Booker are currently asking for comments on their bill and we appreciate any feedback. If you feel you have a question or concern about the bill as it stands, you can email Cannabis_Reform@finance.senate.gov by September 1st.