The Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act has been brought back this week for vote and/or debate in the US House of Representatives. There have been more hopes for the bill to pass through the House as they now have 120 co-sponsors of the bill. One thing that would inhibit the progress of the bill is the Georgia Senate runoff race, which if the Democrats win, could give them a majority in the Senate. Along with the runoff, President-elect Joe Biden is more in favor of rescheduling cannabis rather than removing it from the Controlled Substances Act.
The MORE Act would remove cannabis from the federal Controlled Substances Act in addition to:
- Allow states to continue to regulate their respective cannabis markets
- Give cannabis businesses the ability to use federal and state banks
- End federal 280E tax restrictions
- Enables states to trade cannabis nationwide and internationally
Read more about this week’s vote at MJBizDaily.
Read the MORE Act here.