Senate Majority leader Chuck Schumer sent a hopeful letter to his fellow Senate members urging them to provide input and suggestions on a new bill that would legalize cannabis use at the federal level.
On Thursday, Schumer penned a letter outlining his support for Democrats to move forward with a marijuana bill that would legalize the substance at the federal level as well as impose banking regulations targeting its sales. “In order to appropriately address such a nuanced issue, we respectfully request the input, advice and guidance of Chairs and Ranking Members of relevant committees as well as senators who have dealt with the challenges and realities of legalization in their own states,” read the letter, which was also signed by Sen. Ron Wyden and and Sen. Cory Booker.
Once prepared, the legislation would be introduced in April, and then slated for voting during the mid-term elections. Despite Schumer’s optimistic persistence with the bill, he would still need the approval of at least 60 senators from the equally split Senate. But, given that the majority leader vowed to make the marijuana issue a top priority, he will likely gain energized backing from the Democrats’ main supporters, including younger Americans who may otherwise refrain from turning out during a non-presidential election year.
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“Hundreds of millions of Americans live in states that have legalized cannabis in some form while it remains illegal at the federal level,” Schumer wrote. “This discrepancy leads to confusion and uncertainty and raises significant questions around criminal justice reform, economic development and small business growth, and public health and safety, all of which we believe require some type of federal answer.”
“We would deeply appreciate your willingness to share your expertise on the intersections between your committees’ jurisdictions, your states’ experiences, and comprehensive cannabis reform and invite you to join the process of perfecting this legislation.” the letter concluded.
Information for this briefing was found via the US Senate. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
