America is headed towards legalizing marijuana, and the snowball effect is now becoming obvious as we have action on almost all fronts.
Positive change is finally happening in the chambers of the United States Congress.
One of the most awaited pieces of legislation is now in motion as the Democratic leadership has scheduled a hearing for next week, in which they will discuss banking in the marijuana industry.
Aside from having the power to instigate congressional investigations, House Democrats will now finally have the power to pass cannabis bills as well.
This wasn’t something they could have done in the past as the Congress was tightly held by the Republicans which blocked almost every marijuana reform bill for their time in the Congress.
Times are changing
A while ago, I was asked by a friend of mine what I thought are the things necessary to happen for America to legalize cannabis.
My answer was quite simple and I told him that there are three prerequisites:
- Attorney General Jeff Sessions needs to be replaced
- The Democrats need to have power in the House
- The private sector needs to be on board with legalization
The first two are pretty obvious, as they already happened some time ago. However, many seem to be confused by the third “must happen” event.
Why wouldn’t the private sector be on board? Well, I’m not talking about the whole sector, in fact, as of now most of it would approve of legalizing marijuana.
It’s just some parts of the private sector that aren’t too happy about it—mainly Big Pharma.
We are now starting to see a rise in cannabis lobbying groups, as former Speaker of the House John Boehner has taken up the helm of the National Cannabis Roundtable.
National Cannabis Roundtable will be an industry-funded group to lobby for cannabis reform, including changes affecting medical research, banking and taxes.
Another thing that is worth mentioning is that not only does America have a new Attorney General, but he openly and explicitly said that he will not prosecute and go after businesses in states with legal marijuana.
Now that Barr has been cleared by the Senate Judiciary Committee it is likely that he will stay out of the lights of the cannabis-focused media companies.
It’s not only House Democrats that are working on getting marijuana legalized in this session of Congress, as Senator Wyden (D-OR) yesterday introduced bill S420.
This bill is mainly focused on amending the Internal Revenue Code of 1986 so that it may provide for the taxation and regulation of marijuana products.