The new law to legalize cannabis is here

By Andrew Smith

A bill was released on Wednesday to end America’s federal cannabis ban and remove “marijuana” from the Controlled Substances Act. The bill, sponsored by Senate Majority Leader Chuck Schumer (D-NY), Senator Ron Wyden (D-OR) and Senator Cory Booker (D-NJ), is titled the Cannabis Administration and Opportunity Act and was introduced as a draft that broke the debate to promote among the members of Congress.

The official purpose of the bill is to “decriminalize and demolish cannabis, allow reinvestment in certain people adversely affected by the drug war, eradicate certain cannabis offenses, and for other purposes.”

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The bill allows states to continue to enact their own laws regarding marijuana, just as they do with alcohol. The bill would also allow cannabis companies in the US to apply for loans and be listed on exchanges.

A final version of the bill will be prepared later this year. If passed on in its current form, marijuana, like tobacco and alcohol, would be taxed and regulated. According to the draft, federal excise taxes on marijuana products would start at 10% (double the amount provided for in the MORE bill) and then climb to a whopping 25% within five years of the bill being passed. The Alcohol and Tobacco Tax and Trade Office would levy and enforce taxes on cannabis products, while the Food and Drug Administration would be the regulatory agency charged with regulating the labeling, marketing and manufacture of cannabis products.

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The bill also contains provisions for certain social justice measures. The bill calls for the repeal of non-violent cannabis convictions at the federal level, and those who are already serving sentences for non-violent cannabis crimes at the federal level could seek re-convictions. Additionally, the bill stipulates that the director of the Cannabis Justice Office (a position and office that would be created when the bill went into effect) would run a grant program known as the Community Reinvestment Grant Program, which runs the administration Services in communities adversely affected by the war on drugs. These programs include literacy programs, legal assistance in civil and criminal matters, youth mentoring programs, and health education programs.

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It will be a challenge to find enough support to get the bill passed. The bill would take at least 60 votes to end a filibuster and pass the Senate. That means the bill needs the backing of at least ten Republicans, which could be difficult considering that not even all Democrats are okay with lifting the state’s ban on marijuana. In addition, in line with his disappointing perspective on cannabis, President Biden has reiterated that he does not support the legalization of recreational cannabis use.

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This law is a big step forward and ultimately lays the groundwork for recreational cannabis use at the federal level. The federal government has lagged far behind any state in legalizing cannabis, and this law is the first major attempt to change federal marijuana policy. We will follow the development of the draft law and the related debate very closely in the future.

This article originally appeared on the Canna Law Blog and was republished with permission.