The House Judiciary Committee plans to vote this week on legislation that takes marijuana off the federal government’s list of controlled substances. On Wednesday, the legislators will consider the Marijuana Opportunity Reinvestment and Expungement (MORE) Act, shepherded by the New York Democrat, Rep. Jerry Nadler. The Act has 66 co-sponsors, all of whom are Democrats. The MORE Act, if passed, would take away the federal government’s marijuana laws, descheduling cannabis. Since many low-level marijuana crimes would no longer be illegal, it also creates a way for those convictions to be expunged. It also aims to provide for reinvestment of funds to aid people and communities most directly harmed by the War on Drugs…The House of Representatives also just passed legislation that allows licensed marijuana-related businesses to bank freely. Because cannabis is illegal under the federal government’s eyes, banks have steered clear for fear of losing their insurance or risking prosecution. That’s forced businesses dealing with cannabis to handle their finances in almost exclusively cash. They haven’t been able to accept credit cards, direct deposits, checks, or even access loans. All of their taxes are paid in paper. Now, the House has passed a funding package that includes the Secure and Fair Enforcement Banking Act, also called the SAFE Act.
Marie Edinger, Wikileaf, 09/28/2021 04:54:00