420 with CNW — Senate Leaders Have First Meeting to Discuss Cannabis Legalization Plan

February 17, 2021 04:25:54

The past few years have seen several states legalize recreational or medical cannabis. By 2020, more than 30 states allowed cannabis in various forms, and there was hope that eventually the wave of cannabis reform would reach the federal level. Toward the end of the year, the U.S. House of Representatives passed a cannabis decriminalization bill that would definitely have stalled in the then Republican-controlled Senate. However, the Democrats clinched both the House and Senate majority, renewing the hope that one day, cannabis would be legal at the federal level.

In late January, Senate Majority leader Chuck Schumer hosted a meeting with marijuana stakeholders, beginning the long journey toward finally legalizing cannabis at the federal level. The Democrat was joined by Senate Finance Committee Chair Ron Wyden and Senator Cory Booker, as well as representatives from advocacy groups and the fledgling cannabis industry. The guests included staffers from Drug Policy Alliance (“DPA”) and Students for Sensible Drug Policy as well as other organizations with ties to the Marijuana Justice Coalition, according to sources who attended the hour-long meeting.

In a joint statement released before the meeting took place, the trio of senators, who are at the forefront of cannabis reform, said they would release draft legislation in the coming weeks to help paint a picture of what federal legalization would look like. They stated that the war on drugs and marijuana policing, in particular, had failed, and they called for a change in federal policy that would focus on repairing the harms of the decades’ long war on drugs.

Topics that were discussed during the meeting include the regulatory structure for cannabis, tax policy and social equity. Attendees say one issue the senators were especially committed to was a Senate bill that at minimum would deschedule cannabis and replace current anti-cannabis legislation with a justice and equity-focused policy. Although the senators didn’t go into much detail about what the cannabis bill would eventually look like, they signaled that they would incorporate the feedback they received during the meeting and from other sources.

Amber Littlejohn, executive director at the Minority Cannabis Association (“MCBA”), says the meeting between the senators, advocates and industry stakeholders was historic, especially since Schumer, Booker and Wyden want to make equity and justice the foundation of the legislation. Queen Adesuyi, policy manager of national affairs for the Drug Policy Alliance, also praised the senators’ efforts, saying that seeing “such a dynamic trifecta of leadership” working on delivering justice to communities that were most affected by the war on drugs is exciting.

Booker is expected to be the legislation’s lead sponsor once proposed legislation is filed, after which the bill would likely be referred to Wyden’s committee.

Next door in Canada, cannabis was legalized years back, opening up plenty opportunities for companies to seize. An example of that is the way Pac Roots Cannabis Corp. (CSE: PACR) (OTCQB: PACRF) opted to leverage high-end cannabis genetics as well as the best-in-class cultivars in order to produce cannabis products of premium quality.

NOTE TO INVESTORS: The latest news and updates relating to Pac Roots Cannabis Corp. (CSE: PACR) (OTCQB: PACRF) are available in the company’s newsroom at http://cnw.fm/PACR

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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