Marijuana Legalization Bill Approved By Congressional Committee In Historic Vote
For the first time in history, a congressional committee has approved a bill to end federal marijuana prohibition. The House Judiciary Committee passed the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act in a 24-10 vote on Wednesday, setting the stage for a full floor vote.
HIGHLIGHTS
- The approved legislation, introduced by Chairman Jerrold Nadler (D-NY), would federally deschedule cannabis, expunge the records of those with prior marijuana convictions and impose a five percent tax on sales, revenue from which would be reinvested in communities most impacted by the drug war.
- The committee vote comes two months after the House approved a bill that would protect banks that service state-legal cannabis businesses from being penalized by federal regulators.
- The bill’s fate in the Senate is much less certain, however, and may depend on the kind of compromises that Nadler said he hoped to avoid.
