Cannabis News: New Federal Legalization Draft to be Presented Tomorrow
U.S. Senate Majority Leader Chuck Schumer, Senate Finance Committee Chairman Ron Wyden, and Sen. Cory Booker will hold a press briefing on Wednesday to announce a discussion draft of the long-anticipated federal cannabis legalization bill, called the “Cannabis Administration and Opportunity Act.”
Specifics on the bill’s contents aren’t yet known, but the draft’s release is intended to spur discussion in advance of the bill’s official submission at a future date. Activists have been waiting for the bill, which Schumer has frequently stated will be released “soon,” after they, Wyden, and Booker initially promised in February that it would be available “in the early part of this year.”
Schumer has stated that the intention of the bill is to end federal cannabis prohibition, ensure restorative justice, promote public health, and implement responsible taxes and regulations. Additionally, they said that the bill is meant to prioritize small businesses and communities disproportionately affected by the War on Drugs over large corporations seeking to dominate the industry, such as those from alcohol and tobacco.