Lawmakers Warren, Schumer, Fetterman, Lankford And Others On DEA’s ‘Common Sense’ Or ‘Irresponsible’ Cannabis Rescheduling
Tuesday’s news that the Drug Enforcement Agency (DEA) will move to reclassify marijuana as a less dangerous drug blew the industry and sent cannabis stocks high in the sky. And, while the move was generally praised by the majority of industry experts some highlighted this is only a step in the right direction but far from enough.
For example, the deputy director of the National Organization for the Reform of Marijuana Laws (NORML) Paul Armentano stressed that reclassification won’t resolve state-federal conflict.
Shortly after Tuesday’s news, many politicians, especially those who have supported cannabis reform as well as those against it, expressed their views.
Senate Majority Leader Chuck Schumer (D) shared his official comment in an X post. “Congress must do everything we can to end the federal prohibition on cannabis and address longstanding harms caused by the War on Drugs.” Schumer vowed that he remains committed to working on legislation like the Secure and Fair Enforcement Regulation (SAFER) Banking Act as well as the Cannabis Administration and Opportunities Act, which would federally de-schedule cannabis by removing it from the Controlled Substances Act.
The SAFER Act, which seeks to allow legal cannabis businesses access to banks and financial institutions was approved by the Senate Banking Committee in September 2023. The bill has languished since then.
Republican House Rep for South Carolina Nancy Mace, who is behind the most comprehensive cannabis legalization bill in the U.S. – the States Reform Act, said Tuesday’s news was a “grain of hope because up until this point, it’s been BS.”
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Jared Polis And Ron Wyden
Colorado Governor Jared Polis (D) issued the following statement focusing on the 280E tax provision:
“I am thrilled by the Biden Administration’s decision to begin the process of finally rescheduling cannabis, following the lead of Colorado and 37 other states that have already legalized it for medical or adult use, correcting decades of outdated …