So I'm not sure if you've heard but I haven't seen any recent posts on it so I'll take a crack at informing you. Over the last week pot stocks have been running wild. $CGC up over 25% $TLRY up 21% $POTX $YOLO $MSUS were the top 3 gaining ETFs last 5 days so whattup with that? Well...
A new Republican-led congressional marijuana legalization bill is imminent. The measure is being framed by advocates as a compromise between simple descheduling as proposed by other GOP lawmakers and wide-ranging comprehensive legislation that Democratic leaders are championing. The bill is being led by Rep. Nancy Mace (R-SC). The measure, titled the States Reform Act, is currently being circulated among stakeholders for feedback and is therefore preliminary, but a final version is expected to be officially filed later this month.
What does the bill propose?
⭐Cannabis would be federally descheduled and treated in a manner similar to alcohol.
⭐A 3.75 percent excise tax would be imposed on cannabis sales. Revenue would support grant programs for community reentry, law enforcement and Small Business Administration (SBA) aid for newly licensed businesses.
⭐The Treasury Department’s Alcohol and Tobacco Tax and Trade Bureau (TTB) would be the chief regulator for marijuana with respect to interstate commerce.
⭐The Food and Drug Administration (FDA) would be limited in its regulatory authority, with the intent being that it would have no more control over cannabis than it does for alcohol except when it comes to medical cannabis. The agency could prescribe serving sizes, certify designated state medical cannabis products and approve and regulate pharmaceuticals derived from marijuana, but could not ban the use of cannabis or its derivates in non-drug applications, like in designated state medical cannabis products, dietary supplements, foods, beverages, non-drug topicals or cosmetics.
⭐Raw cannabis would be considered an agricultural commodity regulated by the U.S. Department of Agriculture (USDA).
⭐The legislation would grandfather existing state-licensed cannabis operators into the federal scheme to ensure continued patient access and incentivize participation in the legal market.
⭐As federal agencies work to promulgate rules, there would be safe harbor provisions to protect patients and marijuana businesses acting in compliance with existing state laws.
⭐People with certain federal cannabis convictions that were non-violent would be eligible for expungements.
⭐To prevent youth use, there would be a mandatory 21 age limit for recreational cannabis, and the bill also prescribes certain restrictions on things like advertising.
⭐SBA would need to treat marijuana businesses the same as other regulated markets, like it does for alcohol companies, for example.
⭐The measure also stipulates that veterans can’t face discrimination in federal hiring due to cannabis use, and doctors with the U.S. Department of Veterans Affairs (VA) would be specifically authorized to issue recommendations for medical cannabis for veterans.
⭐Federal agencies could continue to drug test for marijuana.
⭐The Bureau of Labor Statistics (BLS) would be required to issue a report to Congress on the marijuana industry.
The Republican-led effort sets the stage for some interesting debate. Advocates have already rallied behind measures such as the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act, which recently cleared the House Judiciary Committee, as well as a reform bill that’s being finalized on the Senate side, led by Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ).
The point is that the long national hypocrisy seems poised to end. That's why pot stocks have been rallying. Thank you that is all.
#tcardizzle #marijuana #congress
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My brother first invested in the cannabis sector and then it died down immensely. We were just talking about two days ago. Do you see a rise so buy now or gonna dip?
I've been kinda tuned out from politics lately and had no idea this was going on. I did notice pot sticks doing well but didn't know why. Great post! 👏 👏
🤩🤩🤩YESSS! My ACB (aurora cannabis) stock rose, too! Thank you for the update. I wondered when we were looking at getting the crap descheduled bc it’s ridiculous to put it in the same category as like heroin. There’s money & progress to be made & after all the damage in the fallout from that legislation in the 70s, at this point they OWE us, imho! 😈👽👽
RC
I look forward to your posts! 🙌
This is welcomed news. I have been holding GRWG for months and it has been killing me.
MrWiggles@wiegelman
Good find @tcardizzle cannabis legislation is eminent - the gov’t really wants to dope the people up…. Been a long time coming and now looks like the right time. Been in this sector for quite a while longterm and lost a bunch with all the back and forth - hope it pans out for my benefit just hope people don’t let the stonage fog the situations lol
@gasparkles I feel bad now, who knew? I owe you one… they were languishing forver. You kept the ETF though, right?
CROSS@Jake2112
"Tuned out of politics" ... God bless you. I wish we would all tune out. Maybe if we all ignored the asshats they'd all just go away
Thank you for a very informative and interesting post! Only thing I can add is on the ground level my cannabis friends have already lamented how much regular pot costs have increased over several years to which I always reply “be careful what you wish for….” Luckily, doesn’t effect me except for maybe these purposes here and that’s hopefully a money-making one, not one “up in smoke.” Thanks again.…See more
@wiegelman I certainly hope so. To me the worst part is there are people literally sitting in jail right now that based off of any proposal wouldn't be if passed. That's seriously messed up. Jail is no place for anyone who shouldn't be there. They need to pass this immediately. Literally any of them. Every single day they debate is another day of someone's life wasted behind bars. It truly enrages…See more
Wonder if I should put more into $IIPR
Jonathan Tidwell@Tidwell85
Lost a lot of money on cannabis when it first came out. Expected it to boom and all it did was tank.
@jonathantidwell Timing is everything, righto?
@tcardizzle exactly my first thought was it’s Republican lead( so now people listen 🤢) and will not help reform the system at all and get people out of prison and jail that have been there forever sitting on marijuana possession. It’s enraging. I studied criminology and I just couldn’t be a part of the system snd just sit there. Truly sad knowing that non violent “ offenders” are sitting there ove…See more
@Allisonstatmancoaching
It's become impossible to fully quantify just how broken the system is. It's all about about money. You have it? Exit to the left. You don't? Well.. you'll be here for awhile. Once you're in the system is stacked to make sure you stay there. For profit prisons. But we're supposed to believe justice is blind.
@tcardizzle exactly you get lost in the system , literally you are forgotten about. A system with no actual rehabilitation so if you weren’t a criminal before they make sure you become prisonized. I have high hopes for gen Z and whatever generation comes after that to help reform all aspects of injustice. Something has to happen , I want to believe.
@tcardizzle Too true! Justice is blind my A$$… I live in a VERY red part of a red state and “crime” is literally how the government(s) pay the bills! I put crime in parentheses for a reason BTW. To make it to 25 and NOT go to jail is like a miracle…because they throw everyone in jail for anything and everything including minor pot charges and of course, you have to pay probation fees AND court mand…See more
@Allisonstatmancoaching a long time ago in the late late 90s and early 00s I was all set on law school until I (unfortunately) realized the entire system is so messed up it literally disgusted me and in no way could I see myself in a courtroom every week… it happens. Hopefully, for the better and for a reason.
And as he stated “you have it? Exit left. Oh, You don’t? Exit right.” Very very sad but…See more
@slidell333 yessss i was all neuro pre med but switched and I switched to criminology with big dreams of fixing and reforming but the more I learned the less I felt I could be quiet as a federal agent and as much as I loved forensics I certainly didn’t want to be an expert witness here in Texas on a death penalty case.
Im an advocate and Im hopeful and i will always fight for those that need it ,…See more
@slidell333 also your ginger kitty is adorbs.
@Allisonstatmancoaching Good for you! I’m to the right of you in LA, and in a very far-right parish (as we call them)….but just last Friday, our ex-Sheriff got 5 life sentences for child molestation, incest, and other charges! It won’t let me type r a p e. And he still has pending Federal kickback charges in December. And he was the tough on crime “law and order” Sheriff that famously said after Ka…See more
@slidell333 oh God That’s 🤢 disgusting af. What a sicko and racist pos.
Was he fired only when charges were brought up ? I’ll google.
What's sad is a large number of public defenders are so overwhelmed with their caseloads they just end up telling everyone to plead out. I can personally attest to being thrust with no prep into a situation where a judge is asking me very important questions but I don't even know why I'm there. Hadn't committed any crimes and they hadn't told me what I even needed a judge for but suddenly if I ans…See more
@Allisonstatmancoaching actually after 20 years he lost re-election and many knew about the sex crime stuff since he was a teen in the late 70s but his family’s money kept that under wraps but he found out like many that Katrina opened up everyone and everything to the eye of the Federal authorities lol and that was a GOOD thing! My cat says “thanks” im looking at him as I type this actually lol…
That’s why people call them “public pretenders.” I mean, who wants that job? A public defender will get you 3 years, a lawyer 5 years probation (and at least a $6 grand bill). It’s just not right.
@slidell333 it prob ran deeper into trafficking 🤢
My three kitties say you are welcome .
I do think Public defenders have snd see put in horrible situations. Not all are bad. The discretion of the prosecutor has is scary…….
Sadly so many plea out. A very hard job but there are well respected public defenders….
There are good people :-) this I know.
Se can focus on solution and use our voice( o…See more
@tcardizzle “No one who hasn't experienced it or witnessed it up close can possibly understand.”
Amen to that!! ☝️ Yes, I know this firsthand also… it’s so easy to be an armchair qb and be “against crime.” I mean, who isn’t??? But what is “crime” exactly?? Hmm…
