Marijuana Makes Its Way To Congress

Loading...
Loading...
On Tuesday, the U.S. Senate will evaluate a bill designed to reform the way the federal government looks at
marijuana
for the first time in history.
The bill also marks the first time the Senate will make a real contribution to the debate on marijuana reform. Despite the fact that several states have legalized medical and recreational marijuana over the past year, the federal government has maintained a "hands-off" policy regarding the drug.

The Bill

If passed, the bill would end the federal government's prohibition on medical marijuana and would reclassify the drug as a Schedule 2 drug, something activists have been pushing for since legal weed was introduced in the U.S.
Loading...
Loading...
Additionally, the new rules would allow interstate transport of marijuana and give banks the ability to serve companies working with cannabis products.

DOA?

Many say the bill will be impossible to pass through congress, as too many Senators are opposed to such radical reforms on federal policy.
Republican Senator Rand Paul
spearheaded the development of the bill and says it will allow small businesses who deal in marijuana to operate without the fear of eventually being shut down or prosecuted by the federal government.
However, peers from his own party have already expressed their unwillingness to contribute to marijuana reform policies.

Related Link: Pro-Federal Marijuana Bill Could Be a "Green Light" For Entrepreneurs

A Sign Of Change

Even though many expect the bill to be shot down upon its introduction, activists and supporters of marijuana reform say the historic bill suggests that the end of prohibition is on the horizon.
The bill will force the topic on U.S. Senators who have remained mostly silent on the issue, and advocates for reform say a dialogue in Washington is the first step toward change.
Loading...
Loading...
Market News and Data brought to you by Benzinga APIs
Posted In: NewsPoliticsTop StoriesMarketsGeneralCannabismarijuanamarijuana reformpotRand Paul
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...