With President-elect Joe Biden planning to sign as many as 15 executive orders during his first day in office, cannabis reform will have to wait, but the question is for how long?
Both Biden and Vice President-elect Kamala Harris have voiced support for the legal cannabis industry and with the Democrats now in control of both chambers of Congress, the reform movement should grow stronger in the coming weeks and months.
Biden has tapped Jaime Harrison to serve as Democratic Chairman, AP reports, with his election slated to be confirmed on Thursday.
Harrison told CNBC last July that he believes cannabis should be legalized, regulate and taxed, “like we do alcohol and tobacco.”
“In essence, this is about common sense. However, it’s also about criminal justice. We know that marijuana arrests, including those for simple possession, account for a large number of drug arrests. The racial disparities in marijuana enforcement — Black men and white men smoke marijuana the same rates, but black men are much more likely to be arrested for marijuana possession — is just unacceptable,” he said.
The Biden administration also announced thatAtlanta Mayor Keisha Lance Bottoms, Michigan Gov. Gretchen Whitmer, Illinois Sen. Tammy Duckworth and U.S. Rep. Filemon Vela Jr. of Texas would serve as vice-chairs. All four have shown support for cannabis reform.
Last October, Whitmer signed a package of bills to wipe cannabis-related offences from criminal records. Michigan legalized cannabis in 2018 and sales began in 2019.
“During my 2018 campaign for governor, I made expungement of marijuana charges one of my key priorities, and I’m so proud today that we can follow through on that goal,” Whitmer said at a 2020 press conference, reports the Detroit Metro Times.
Many of Biden’s cabinet picks, such as Health and Human Services Secretary nominee Xavier Becerra and Labor Secretary nominee Marty Walsh, also come from states that have already legalized the plant.
Becerra has defended California’s legal cannabis program and voiced support for broader cannabis reform measures, while Boston mayor Walsh has advocated for equitable and diverse ownership in the cannabis industry.
“We appear to remain on track to federal descheduling,” Nathaniel Gurien, chief executive of Fincann, which provides financial services to the legal cannabis industry, told NJ.com. “Fasten your seatbelts, everyone.”
Though the Marijuana Opportunity Reinvestment and Expungement Act (MORE Act) was passed by the House last December, it has languished on Mitch McConnell’s desk.
Harris was the lead Senate sponsor of the bill that would have removed cannabisfrom the federal government’sSchedule I controlled substancelist, require federal courts to expunge prior non-violent marijuana convictions and funnel funds toward the communities most affected by the War on Drugs.
The bill will need to be reintroduced but, asUniversity of Southern California professorRosalie Liccardo Pacula writes at The Conversation, the initial success of the MORE Act is “an important sign that sentiment in Washington is changing, guided by increasing public backing for cannabis reform.”
The markets are noticing, too.
“The U.S. cannabis trade is now running full steam ahead,” Nawan Butt of Purpose Investmentsrecently told Proactive Investors.“With a ‘blue wave’, there is significant upside for the cannabidiol (CBD) wellness and ancillary services industries in the U.S., which are sharing the growth rates of the underlying cannabis industry,” Butt said.
Credit:Source link