* It would be descheduled and treated similar to alcohol
* A new federal tax of 3.75% would be imposed
* Can the Biden administration legalize marijuana without waiting for lawmakers?
There’s a new push to legalize marijuana, but surprisingly it is Republican-led bill. The bill is essentially a compromise between simple descheduling cannabis as previously proposed by both GOP and democratic lawmakers.
The draft legislation is the most comprehensive as well as favorable to the industry to date. The new bill would create the following rules:
1. Cannabis and related products would be federally descheduled and treated in a manner similar to alcohol.
2. A 3.75% federal excise tax would be imposed.
3. The TTB, AKA, the Treasury Department’s Alcohol and Tobacco Tax and Trade Bureau would be the chief regulator.
Can the Biden administration legalize marijuana without waiting for lawmakers?
The Congressional Research Service (CRS) is currently asking the question “Does the president have the power to legalize marijuana?” The concept has raised repeatedly in recent years, especially since Sen. Bernie Sanders pledged to take executive action to end prohibition on day one in the White House during his 2020 presidential campaign. The reality is that the president most likely cannot legalize cannabis on his own with an executive order, he could alter the scheduling of marijuana or change the enforcement approach.
The bottom line is that legalization seems to be finally getting some real traction. Although we have heard this rhetoric before resulting in little to no progress, the tide seems to be turning and the possibility of real progress appears to be better than ever before.
Keith Springer is the president of the Cannabis Education Council, promoting cannabis education worldwide championing the safe and effective uses of cannabis for medicinal and recreational purposes. He is also the owner of Stinky Leaf dispensary of Palm Springs, California.