President Trump has made it a priority to get the Senate to pass a bill that would legalize the use of marijuana nationwide. When asked about the bill, Trump said “We ought to leave it up to the states. It’s really up to the states.” So, should marijuana be legalized nationwide? Keep in mind that the Controlled Substance Act prohibits the manufacture, possession, or distribution of marijuana. The answer really lies on the issue of federalism.
Marijuana Policy Project is ramping up its efforts to pass statewide marijuana legalization measures in Colorado, Missouri, and Arizona.
If you are in the cannabis industry, you have probably heard a lot of rumors about cannabis legalization on Capitol Hill. The truth is even though President Obama has said the federal government has no plans for legalization of cannabis, there are some members of Congress that realize that this industry has been slowly but surely getting legalized in states that are legalizing it.. Read more about latest legalization news and let us know what you think.
Sources have confirmed that Senate Majority Leader Chuck Schumer will try to get a more comprehensive legalization bill through before moving on to a smaller bill like the SAFE Banking Act. The federal cannabis legalization saga continues as the Democrat-controlled House of Representatives continues to pass legalization bills that (so far) have little support in the divided U.S. Senate. (Link). The result has increased speculation in the cannabis community as activists, business owners and convicted cannabis offenders await action from the federal government. And while it’s impossible to say exactly what the final version of the cannabis reform bill will look like, some knowledgeable folks (like the editors of an obscure cannabis newsletter) have picked up on a few interesting things in the smoke signals coming out of the Capitol.
Photo: Jonathan Ernst/Pool/Getty Images
Chuck will have something to say
As Politico recently wrote, Chuck Schumer loves to talk about weed. (Link). Cannabis reform has become a celebrity for the New York senator, who continues to push for a comprehensive legalization bill that could include everything from criminal justice reform to provisions allowing growers access to U.S. capital markets. Leaf’s sources confirmed that Schumer will be the gatekeeper for what is ultimately being considered (at least for now), and that he plans to try to get a more comprehensive legalization bill through before moving on to a smaller bill like the SAFE Banking Act (more on that below). Schumer sees budget reconciliation – the bureaucratic process by which Congress often approves budget-related legislation – as a possible vehicle for a preferred cannabis legalization bill and plans to introduce his proposal in the coming weeks. The bill itself could be released in the next few days and will likely begin its legislative journey in the Senate Finance Committee, chaired by Senator Ron Wyden of Washington. If the bill fails (as many in Schumer’s own camp predict), Schumer will likely move on to plan B – the SAFE Banking Act.
Votes in favour of SAFE Banking
The SAFE Banking Act, passed by the House of Representatives in May 2020, prohibits federal regulators from penalizing financial institutions for doing business with cannabis companies licensed in the state. This could also be a solution to the cannabis industry’s Section 280E problem (if you missed it, read our article about it above). (Link). 
Photo by Kindel Media from Pexels Several senators in the Democratic caucus made it clear that repealing section 280E was particularly important. The House-passed version of the SAFE Bank Act provides that income from legal cannabis in the state is not income from illegal activities, allowing cannabis businesses to use the same standard deductions as their counterparts in other industries. However, some insiders on Capitol Hill doubt that this particular provision of the House version has the necessary votes in the Senate. Nevertheless, Leaflet’s sources said there may already be enough votes in the Senate to adopt SAFE Banking in some form. While this decision may be disappointing to some in the industry, it is still an important step forward in the fight for wider (or even full) legalization of cannabis. It could also pave the way for more comprehensive cannabis legislation in the months and years to come.It looks like the rumors were true. According to a recent report, the U.S. Attorney General is preparing to announce that the DOJ will file suit against the state of California over the medical marijuana use of children and teenagers in the state. The AG is expected to file the suit this week. The AG’s action is expected to be a prelude to a lawsuit that could be filed against California in the coming months in federal court.. Read more about federal legalization 2021 status and let us know what you think.
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