Investorideas.com

Call 800 665 0411 to learn about our services

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS



Share on StockTwits

Bill To End Marijuana Prohibition Passes Key Committee

The House Judiciary Committee Just Approve The MORE Act

 

Washington, DC - November 20, 2019 (Investorideas.com Newswire) For the first time ever, a congressional committee has approved a piece of legislation to end marijuana prohibition in the United States. The Marijuana Opportunity, Reinvestment, and Expungement Act, better known as The MORE Act (HR 3884), would remove marijuana from the Controlled Substances Act and impose a minor excise tax on the legal cannabis industry to pay for the expungement of criminal records, among other changes, passed with a bipartisan vote of 24 to 10.

"This is a truly historic moment in our nation's political history. For the first time, a Congressional committee has approved far-reaching legislation to not just put an end to federal marijuana prohibition, but to address the countless harms our prohibitionist policies have wrought, notable on communities of color and other marginalized groups," stated NORML Executive Director Erik Altieri, "Opposition to our failed war on marijuana has reached a boiling point with over two-thirds of all Americans, including majorities of all political persuasions, now supporting legalization. Congress should respect the will of the people and promptly approve the MORE Act and close this dark chapter of failed public policy."

"The passage of the MORE Act represents the first time that the Judiciary Committee has ever had a successful vote to end the cruel policy of marijuana criminalization," said NORML Political Director Justin Strekal. "Not only does the bill reverse the failed prohibition of cannabis, but it provides pathways for opportunity and ownership in the emerging industry for those who have suffered most. In 2018 alone, over 663,000 Americans were arrested for marijuana-related crimes, a three-year high. Now that Chairman Nadler has moved the MORE Act through committee, it is time for the full House to vote and have every member of Congress show their constituents which side of history they stand on."

In the two days leading up to the vote, over 55,000 thousand messages were sent to lawmakers by Americans in support of The MORE Act through the NORML legislative action center.

The Marijuana Opportunity Reinvestment and Expungement Act, HR 3884, will:

  • Decriminalizes marijuana at the federal level by removing the substance from the Controlled Substances Act. This applies retroactively to prior and pending convictions, and enables states to set their own policy.
  • Requires federal courts to expunge prior convictions, allows prior offenders to request expungement, and requires courts, on motion, to conduct re-sentencing hearings for those still under supervision.
  • Authorizes the assessment of a 5% excise tax on marijuana and marijuana products to create an Opportunity Trust Fund, which includes three grant programs:
    • The Community Reinvestment Grant Program: Provides services to the individuals most adversely impacted by the War on Drugs, including job training, re-entry services, legal aid, literacy programs, youth recreation, mentoring, and substance use treatment.
    • The Cannabis Opportunity Grant Program: Provides funds for loans to assist small businesses in the marijuana industry that are owned and controlled by socially and economically disadvantaged individuals.
    • The Equitable Licensing Grant Program: Provides funds for programs that minimize barriers to marijuana licensing and employment for the individuals most adversely impacted by the War on Drugs.
  • Opens up Small Business Administration funding for legitimate cannabis-related businesses and service providers.
  • Provides non-discrimination protections for marijuana use or possession, and for prior convictions for a marijuana offense:
    • Prohibits the denial of any federal public benefit (including housing) based on the use or possession of marijuana, or prior conviction for a marijuana offense.
    • Provides that the use or possession of marijuana, or prior conviction for a marijuana offense, will have no adverse impact under the immigration laws.
  • Requires the Bureau of Labor Statistics to collect data on the demographics of the industry to ensure people of color and those who are economically disadvantaged are participating in the industry.

NORML's mission is to move public opinion sufficiently to legalize the responsible use of marijuana by adults, and to serve as an advocate for consumers to assure they have access to high-quality marijuana that is safe, convenient, and affordable.

Find out more at www.norml.org and read our factsheets on the most common misconceptions and myths regarding reform efforts around the country at www.norml.org/marijuana/fact-sheets

Today's Top cannabis stock news and podcasts at Investorideas.com

Investor Ideas Potcasts - Cannabis Stocks Podcast Series: (TSX: APHA) (NYSE: APHA), (TSX: NEPT) (NASDAQ: NEPT), (OTC: RLBD), (TSXV: WMD) (OTCQX: WDDMF)

Podcast Interviews with Management of Aphria Inc., Neptune Wellness Solutions Inc., Real Brands, Inc. and WeedMD Inc.



Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Follow Us on StockTwits


Get more Cannabis Stock Investor Ideas - news, articles, podcasts and stock directories for Cannabis stocks and Psychedelic Stocks

Buy a cannabis guest post on Investorideas.com