Chuck Schumer Or Nancy Mace: Whose Cannabis Legalization Bill & Which Candidates Are The Largest Weed Companies Supporting?

Zinger Key Points
  • Leaders of some of biggest cannabis companies are putting their money on the South Carolina Republican.
  • Historical differences between the two parties stand out in their respective cannabis reform bills.

Federal cannabis reform will be created in the image and likeness of whichever political party is in office when it finally happens.

And don’t we know it? In fact, last week Bill Maher bemoaned that "Republicans are going to steal the issue, I think eventually." The Real Time talk show host, who was speaking with former attorney General Eric Holder, is probably right.


Republicans, with their keep taxes low and government regulation to a minimum approach, might be better equipped psychologically and practically to legalize cannabis, their conservative Christian wing notwithstanding.

Whereas the Dems are more disposed to taxes, regulations and, to their credit, a strong emphasis on social equity and justice as seen by an across-the-board push for expungement, their prohibitionist President notwithstanding.

Also Read: Oregon Becomes First State In Nation To Ban Synthetic Cannabis Products: Delta 8 THC Is Out Starting In July

How Do We Know This?
Just take a look at the two major cannabis reform proposals – one from each party - that have been circulating in and out of the halls of Congress as well as state legislatures. 

Senate Majority leader Chuck Schumer along with Sens. Cory Booker and Ron Wyden launched their Cannabis Administration and Opportunity Act (CAOA), which will, we’re told, be introduced in August after several false starts. 

Then there’s Rep. Nancy Mace’s (R-SC) States Reform Act (SRA), which when introduced in 2021 was warmly greeted. 

Both bills would remove cannabis from the Controlled Substances Act, thus legalizing it federally...a good start. Many in the industry concur that the Dems' CAOA leans more toward social justice and therefore enjoys support from the Marijuana Justice Coalition, which includes the ACLU and Human Rights Watch.

Mace’s SRA is more big-business centered and enjoys the backing of the Cannabis Freedom Alliance, which includes the Koch-funded group Americans for Prosperity.

So, whose legalization bill and by extension which congressional candidates are executives of the U.S.'s highest-valued cannabis companies supporting? 

If you guessed Nancy Mace, go to the head of the class. 

Cannabis Wire did some digging into the Congressional campaign contributions made by executives of the following multistate operators: 

Ascend Wellness AAWH 

Ayr Wellness AYR AYRWF 

Canopy Growth CGC 

Columbia Care  CCHWF 

Cresco Labs CL CRLBF 

Curaleaf Holdings CURA CURLF 

Green Thumb Industries GTBIF GTII 

TerrAscend TRSSF 


Verano Holdings VRNOF

Of these companies, six CEOs made a campaign contribution in 2022. Four of them gave to Mace alone. One gave to Mace and to Gary Chambers, a Democrat from Louisiana who is running for Senate. And one gave only to Chambers, who made headlines in January when he smoked a joint in one of his campaign ads.

So yeah, Bill Maher might have a point.

Posted In: Bill MaherCannabis Administration and Opportunity ActCannabis WireChuck SchumerCory BookerEric HolderNancy MaceRon WydenStates Reform ActCannabisGovernmentNewsPenny StocksRegulationsPoliticsSmall CapLegalMarketsGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.