420 with CNW — Schumer Expects to File Cannabis
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Posted On: 02/11/2022 5:05:14 PM
420 with CNW — Schumer Expects to File Cannabis Legalization Bill in April
New York’s Senator and Senate Majority Leader Chuck Schumer is pushing to legalize marijuana on a federal level. In a Friday press conference, the Democratic lawmaker announced that he aims to introduce the cannabis legalization bill in April.
The meeting took place on the same day that the House of Representatives passed the COMPETES act, which contained the Secure and Fair Enforcement (“SAFE”) Banking Act. Through the SAFE Banking Act, cannabis businesses would access services from banking institutions just like any other business.
The Friday press meeting was also attended by advocacy groups, organizations and other lawmakers. Lawmakers present included the democratic congressman Jerrold Nadler and Senator Diane Savino.
Schumer is seeking to reform marijuana’s federal legislation through the Cannabis Administration & Opportunity Act (“CAOA”). He said the bill would serve as a framework for the country in implementing law amendments that are focused on maintaining social equity.
The contents of the CAOA Act were unveiled for the first time in July. The bill’s advocates were excited with the information but became impatient with the inactions taken in the months that followed. The bill now has a targeted timeline, and the lawmaker told activists in another meeting that he expects committee hearings to take place after the bill is finally filed.
Schumer’s office has also been involved in taking part in the passing of the SAFE Banking Act. Last year, he was criticized for blocking the banking bill until his office had discussions with the bill’s sponsor, Colorado’s representative Ed Perlmutter.
The Senate leader said that his CAOA reform bill would work in favor of small operators and restrict larger companies from operating the cannabis economy once federal prohibition is lifted. Schumer also mentioned that while they had not received endorsement from the president, they were “talking” to him about the issue.
At the same press conference, Rep. Jerrold Nadler (D-NY) talked about ending marijuana’s federal prohibition through his Marijuana Opportunity, Reinvestment and Expungement (“MORE”) Act. The bill seeks to promote social equity to end the destructive policies that have greatly affected people of color. Congresswoman Nydia Velazquez was also present at the event and talked about the significance of lifting the federal prohibition and providing resources to cannabis businesses through the Small Business Administration (“SBA”).
Public opinion on marijuana has dramatically shifted over the years. With more than two in three Americans supporting legalization of marijuana, Velazquez calls for action from the federal government to align federal policy with the people’s needs.
The marijuana industry, including companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS), can only wait with bated breath to see what comes of this new attempt to end federal marijuana prohibition.
NOTE TO INVESTORS: The latest news and updates relating to Cannabis Strategic Ventures Inc. (OTC: NUGS) are available in the company’s newsroom at http://cnw.fm/NUGS
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer
New York’s Senator and Senate Majority Leader Chuck Schumer is pushing to legalize marijuana on a federal level. In a Friday press conference, the Democratic lawmaker announced that he aims to introduce the cannabis legalization bill in April.
The meeting took place on the same day that the House of Representatives passed the COMPETES act, which contained the Secure and Fair Enforcement (“SAFE”) Banking Act. Through the SAFE Banking Act, cannabis businesses would access services from banking institutions just like any other business.
The Friday press meeting was also attended by advocacy groups, organizations and other lawmakers. Lawmakers present included the democratic congressman Jerrold Nadler and Senator Diane Savino.
Schumer is seeking to reform marijuana’s federal legislation through the Cannabis Administration & Opportunity Act (“CAOA”). He said the bill would serve as a framework for the country in implementing law amendments that are focused on maintaining social equity.
The contents of the CAOA Act were unveiled for the first time in July. The bill’s advocates were excited with the information but became impatient with the inactions taken in the months that followed. The bill now has a targeted timeline, and the lawmaker told activists in another meeting that he expects committee hearings to take place after the bill is finally filed.
Schumer’s office has also been involved in taking part in the passing of the SAFE Banking Act. Last year, he was criticized for blocking the banking bill until his office had discussions with the bill’s sponsor, Colorado’s representative Ed Perlmutter.
The Senate leader said that his CAOA reform bill would work in favor of small operators and restrict larger companies from operating the cannabis economy once federal prohibition is lifted. Schumer also mentioned that while they had not received endorsement from the president, they were “talking” to him about the issue.
At the same press conference, Rep. Jerrold Nadler (D-NY) talked about ending marijuana’s federal prohibition through his Marijuana Opportunity, Reinvestment and Expungement (“MORE”) Act. The bill seeks to promote social equity to end the destructive policies that have greatly affected people of color. Congresswoman Nydia Velazquez was also present at the event and talked about the significance of lifting the federal prohibition and providing resources to cannabis businesses through the Small Business Administration (“SBA”).
Public opinion on marijuana has dramatically shifted over the years. With more than two in three Americans supporting legalization of marijuana, Velazquez calls for action from the federal government to align federal policy with the people’s needs.
The marijuana industry, including companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS), can only wait with bated breath to see what comes of this new attempt to end federal marijuana prohibition.
NOTE TO INVESTORS: The latest news and updates relating to Cannabis Strategic Ventures Inc. (OTC: NUGS) are available in the company’s newsroom at http://cnw.fm/NUGS
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer
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