Federal Cannabis Legalization News
This week we saw a major push by Senate Majority Leader Chuck Schumer to legalize cannabis at the federal level when he circulated a petition, asking for signatures from supporters. These types of email campaigns are often used to build up their own email lists for political fundraising; however, Schumer has been an outspoken proponent of allowing banks to do business in the cannabis industry. On Wednesday, Schumer and a bipartisan group of cannabis supporters introduced a revised version of the SAFE Banking Act called the SAFER Banking Act. This updated version has some new provisions and is set for mark-up in the Senate next week.
Meanwhile, two republican supporters of the SAFER Banking Act introduced their own bill to impede the proposition of rescheduling cannabis to a less regulated class. The DEA Act, as it’s known, would require congressional approval to propose a change to any federal drug law, adding another hurdle to the prospect of cannabis legalization if it were to pass both chambers of Congress. The MORE Act was also refiled again this week, making its way to the House for a third time. The bill is solely sponsored by Democrats and faces an uphill battle to make it through while the House is under GOP majority.
New York continues to make headlines for their calamitous roll out of the adult-use industry in the state. Leafly, Ron DeSantis, and the NCAA also get some of the spotlight this week. Tune in to hear all about it. This is Cannabis Legalization News for the week of September 18th.
Get in touch with us:
🌱 We can help with your cannabis business. Here is our info. (https://bit.ly/m/collateral-base)
🔔 Subscribe to CLN for more cannabis content! (https://bit.ly/2VJUAQr)
💚 Become a member for exclusive perks! (https://bit.ly/2UavaLj
📚 Learn more about the 🥦 Industry! (http://bit.ly/3Jo4VIz)