Video: Schumer Says Marijuana Reclassification Is Necessary But Is Not End Of Story, Presents Bill To Federally Legalize Cannabis

U.S. Senators Cory Booker (D), Majority Leader Charles E. Schumer (D) and Finance Committee Chairman Ron Wyden (D-OR) reintroduced the Cannabis Administration and Opportunity Act (CAOA) on Wednesday

This comprehensive legislation would end the federal prohibition of cannabis by removing it from the list of federally controlled substances and empowering states to create their own laws. 

The measure was first introduced in July 2022, following an outline in July 2021. The proposal included plans to remove marijuana from the Controlled Substances Act, expunge prior convictions and allow people who are serving time for applicable crimes to petition for resentencing. 

The reintroduction comes just one day after the Drug Enforcement Administration (DEA) called for cannabis to be reclassified from Schedule I to Schedule III of the US Controlled Substances Act. This is the first time in history the DEA announced such a move. It came about eight months after the Department of Health and Human Services requested marijuana reclassification.

While Schumer said he was pleased with the news of reclassification and considers it is a step in the right direction, he stressed that placing cannabis on Schedule 3 is not enough to address the harms of the failed War on Drugs, which was often viewed as a "war on people of color." 

See Also: Cannabis Advocates Say DEA’s Move Represents ‘Progress But Not Justice,’ Ends War On Medical Marijuana Patients, But Not War On Drugs

Senator Booker commented,"It is long past time to confront the failure of the War on Drugs, particularly its disproportionate impact on communities of color and low-income individuals. We must take proactive and significant steps to rectify these ongoing injustices. Thousands of people have suffered at the hands of our broken cannabis laws, and the Cannabis Administration and Opportunity Act would finally dismantle the outdated federal marijuana prohibition, expunge past convictions for people with low-level cannabis offenses, and ensure restorative justice for communities impacted by the War on Drugs. These common-sense policies will ensure a more equitable criminal justice system and promote public safety."

Pro tip: Learn all about the future of the cannabis industry at the Benzinga Cannabis Capital Conference this October in Chicago. Hear directly from key industry players and policymakers. Get your tickets now by following this link, and access a 20% discount using the code JAVI20.

The Bill’s Highlights 

The Cannabis Administration and Opportunity Act establishes a federal regulatory framework to protect public health and safety, prioritizes restorative and economic justice to help undo the decades of harm caused by the failed War on Drugs, ends discrimination in the provision of federal benefits on the basis of cannabis use, provides major investments for cannabis research, and strengthens worker protections. 

By decriminalizing cannabis at the federal level, the CAOA also ensures that state-legal cannabis businesses or those in adjacent industries will no longer be denied access to bank accounts or financial services simply because of their ties to cannabis.

The measure is co-sponsored by Senators Murray (D), Merkley (D), Gillibrand (D), Warren (D), Markey (D), Bennet (D), Peters (D), Smith (D), Hickenlooper (D-), Luján (D), Padilla (D), Welch (D), Warnock (D), Fetterman (D), Butler (D-). 

See Also: Lawmakers Warren, Schumer, Fetterman, Lankford And Others On DEA’s ‘Common Sense’ Or ‘Irresponsible’ Cannabis Rescheduling

"Our comprehensive Cannabis Administration and Opportunity Act doesn't tell states what to do—but it provides them with the tools to effectively implement the laws their voters and legislators choose," Senator Wyden, said in a statement. "Public health, public safety, opportunity and social justice must be at the core of any cannabis reform proposal, and it's crucial stakeholders continue to have a seat at the table. I look forward to working with my colleagues and advocates across the country to make these priorities a reality."   

Photo Benzinga Edit: Peter Pike by Pixabay and Wikimedia Commons