Congress To Discuss Ending Federal Prohibition Of Cannabis
Marijuana Stocks, Finance, & InvestingUncategorized November 21, 2019 MJ Shareholders
A Congressional committee intends to discuss legislation aimed at ending the federal prohibition of marijuana.
The legislation, introduced by House Judiciary Committee Chairman Jerry Nadler, would remove cannabis from the Controlled Substances Act and allocate funding to repair the disproportionately negative impact the war on drugs has had on black communities, according to Forbes.
The bill would create a 5% federal tax on marijuana sales to generate educational programs and give loans for small cannabis businesses owned by economically disadvantaged individuals. Additionally, it aims to minimize restrictions on licensing and employment in the industry.
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