Several Republican members of Congress on Monday are formally introducing a bill to federally legalize and tax marijuana as an alternative to far-reaching Democratic-led reform proposals and scaled-down GOP cannabis descheduling legislation. Rep. Nancy Mace (R-SC) is sponsoring the bill—titled the States Reform Act—along with five initial Republican cosponsors. It would end federal marijuana prohibition while taking specific steps to ensure that businesses in existing state markets can continue to operate unencumbered by changing federal rules. Unlike more modest measures previously championed by some of Mace’s GOP colleagues, this legislation—an updated draft version of which was obtained by Marijuana Moment over the weekend—represents an attempt to bridge a partisan divide. It does that by incorporating certain equity provisions such as expungements for people with non-violent cannabis convictions and imposing an excise tax, revenue from which would support community reinvestment, law enforcement and Small Business Administration (SBA) activities. Marijuana Moment first reported on an earlier draft version of the bill earlier this month, and it quickly became apparent that industry stakeholders see an opportunity in the Republican-led effort.

Kyle Jaeger, Marijuana Moment, 11/15/2021 10:48:00

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