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Home Business News Diaspora

US House passes reform bill to decriminalize marijuana

Omokolade Ajayi by Omokolade Ajayi
December 5, 2020
in Diaspora
US House passes reform bill to decriminalize marijuana
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The 116th US Congress passed a reform legislation to decriminalize marijuana and expunge non-violent marijuana-related convictions and prosecution.

The bill, however, moves to legislate H.R. 3884, the Marijuana Opportunity Reinvestment and Expungement (MORE) Act of 2019, under a closed rule.

According to a statement made by the House Judiciary Committee Chairman, Jerry Nadler, the MORE Act is a commonsense bill that will make a tangible difference in the lives of millions of Americans, as it is tied around ideals of racial, economic, and moral justice.

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READ: Coca Cola’s interest in cannabis presents export opportunities for Nigeria

However, the bill still has to pass through the US Senate, but it is likely that the Senate would pass it, given the uncertainties around it and owing to the non-inclusion of a cost estimate in the committee report, according to Clause 3(d) of rule XIII.

However, US representative for the eastern part of Bronx in New York, Alexandria Ocasio Cortez, tweeted that 68% of Americans support marijuana legalization.

READ: PIB and Electoral Amendment Bill pass second reading in House of Reps

This year, South Dakota, Arizona, Montana, and New Jersey joined 11 other states in legalizing it. Yet, the federal government still classifies pot as a dangerous drug. The Senate must listen to the American people and vote on this bill.

Why this matters

The bill, if finally passed by the senate would decriminalize cannabis, and also provide for reinvestment in certain persons adversely impacted by the war on drugs, through the expungement of certain cannabis offenses and for other purposes.

Thus, leading to the delisting of marijuana from the federal list of controlled substances and expunge some marijuana convictions for nonviolent criminals.

READ: Update: FEC approves 2020 Finance bill as FG denies plans to increase taxes

The bill would also ban the denial of federal public benefits to a person on the basis of certain cannabis-related conduct or convictions.

What they are saying

The House Judiciary Committee Chairman, Jerry Nadler, representing parts of Manhattan and Brooklyn said:

“There is no reason for cannabis to be classified as a federally scheduled substance under the Controlled Substances Act. The MORE Act deschedules cannabis, allowing states to establish their own marijuana regulations and providing medical marijuana access to veterans in need.”

READ: Delta State House of Assembly passes N384 billion 2021 Appropriation Bill

“The MORE Act is a common-sense bill that will make a tangible, real difference in the lives of millions of Americans. I’m proud of this bill centered around ideals of racial, economic, and moral justice.”

“I’m so proud that the MORE Act passed the House by a bipartisan vote of 228 to 164. I introduced this bill to provide restorative justice, modernize America’s cannabis laws, and deliver meaningful investments to America’s communities & small businesses.”

READ: Minimum wage earners should be exempted from paying income tax – FG

Co-chair of the Congressional Cannabis Caucus, Earl Blumenauer, representing Oregon’s 3rd Congressional District, while speaking at Capitol Hill during the House session on Friday said:

“We are here because we have failed three generations of Black and Brown young people, whose lives can be ruined or lost, by selective enforcement of these laws.

This Legislation will end that disaster. It’s time for the Congress to step up and do its part”

READ: #EndSARS: Nothing wrong with social media bill – Ali Ndume

What you should know

  • Recreational marijuana is currently legal in 15 states and Washington DC, while Medical marijuana is legal in 34 states of the 50 States of the USA.
  • The MORE Act has seen a lot of criticisms by people who believe the bill is an unserious bill, as there is zero interest in moving this bill in the Senate and zero interest in supporting it in either the current administration or the incoming one.
  • Earlier this week, Republican Senate Majority Leader, Mitch McConnell, criticized the House for passing the cannabis bill, instead of focusing on a COVID-19 stimulus bill that both parties reportedly have agreed upon.

READ: Lagos 2021 Appropriation Bill scales through second reading


Follow us for Breaking News and Market Intelligence.
Tags: Alexandria Ocasio CortezMarijuana Opportunity Reinvestment and ExpungementMORE Act
Omokolade Ajayi

Omokolade Ajayi

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor.

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