This bill was introduced in a previous session of Congress and was passed by the House on April 1, 2022 but was never passed by the Senate. Currently, cannabis businesses, even those operating legally, are hindered by restrictions outlined in IRC section 280E, which prohibits businesses that sell controlled substances from deducting expenses related to those sales. U.S. Senate: U.S. Senate Roll Call Votes 117th Congress - 2nd Session Roll Call Vote 117 th Congress - 2 nd Session XML Vote Summary Question: On the Cloture Motion (Motion to Invoke Cloture: Motion to Concur in the House Amendment to S. 3373 ) Vote Number: 272 Vote Date: July 27, 2022, 04:48 PM Required For Majority: 3/5 The MORE Act would need 60 votes to pass the Senate, which is unlikely. Gov. This Week in 340B: February 21 27, 2023. ), a member of GOP leadership, cast doubt on its chances. The bill restarted with the current Congress. Simple Majority Required. Perhaps the biggest hurdle for the MORE Act getting time in the Senate is that Senate Majority Leader Chuck Schumer and Senators Cory Booker and Ron Wyden, are planning to finally formally introduce their much-anticipated federal decriminalization bill, the Cannabis Administration and Opportunity Act later this month. Things got more complicated when, around the same time, Senate Majority Leader Chuck Schumer (D-N.Y.) and Sen. Joe Manchin (D-W.Va.) announced a surprise deal on a massive tax and climate change bill. The Opportunity Trust Fund would divvy up their tax earnings: 50% would support a Community Reinvestment Grant Program, 10% would support substance misuse treatment programs, and 40% would go to the federal Small Business Administration to support implementation and a newly created equitable licensing grant program. The Marijuana Opportunity Reinvestment and Expungement (MORE) Act was introduced by House Judiciary Chairman Jerrold Nadler, a Democrat from New York. The bill would also open the door to research. Telephone and Texting Compliance News: Regulatory Update February 2023. Cory Booker (D-NJ), Chuck Schumer (D-NY), and Ron Wyden (D-OR)introduced draft legislation for the Cannabis Administration and Opportunity Act last summer, which could be introduced in the Senate next month. The Marijuana Opportunity Reinvestment and Expungement (MORE) Act (H.R. He also says the tax rate of 8% would make legal pot 30% more expensive, giving illegal operators a nice margin to exploit. [18] He says the passing of Senate Bill 4 is a win, but he's sad it took so long. MORE (Marijuana Opportunity Reinvestment and Expungement) Act. Does the Supreme Court have the stomach to tackle the super fun SECs Pay vs. Market Realist is a registered trademark. A few Senators have voiced their opinion on the legislation, even though the bill has not been picked up yet. All states that have "legalized" cannabis over the last 10 years still technically are breaking the law due to preemption. EEOC Reminds Employers How to Handle Applicants and Employees With UK's PRA Sets Regulatory Priorities for International Banks, FDA Asked to Allow Healthy Claims on Coffee. Treasury Secretary Janet Yellen said Wednesday that her department is supportive of the SAFE Banking Act and lamented that Congress has not updated federal law to accommodate states that have legalized weed. This tells me where his mind is at; that he believes more research is still needed. Perez added that she thinks its possible Biden may yet take some action to give clemency to people convicted of low-level marijuana-related crimes. The House-passed bill included the SAFE Banking Act, while the Senate version did not. High Government: The U.S. House of Representatives passed a bill to deschedule cannabis and tax marijuana sales. The measure not only woulddecriminalize the substance,it also wouldimposean excise tax on cannabis products made in or imported into the U.S. as well as levyan occupational tax on production facilities and export warehouse. The Biden administration, however, has not made the progress many expected on cannabis reform, and its actions suggest a stance that is still very anti-cannabis. You are also agreeing to our Terms of Service and Privacy Policy. However, the Senate is also working concurrently on a different piece of legislation, the COAA (Cannabis Opportunity and Administration Act). The Michigan Senate passed an amendment to the Elliott-Larsen Civil Rights Act that explicitly includes protections for sexual orientation and gender identity. HuffPost's top politics stories, straight to your inbox. In July 2021, protestors gather to protest criminalization of cannabis and promote the MORE Act, to be voted on in the House next week. said the MORE Act would address our nations failed approach to the war on drugs. Its worth noting that Biden was a key part of the federal war on drugs in the 1980s and 1990s; he authored the 1994 Violent Crime Control and Enforcement Act, which ramped up the war on drugs and imposed tougher prison sentences for federal drug crimes. More than two-thirds of Americans want to legalize recreational weed, according to aNovember Gallup poll, the highest figure on record. He is also the assistant district attorney for Oakland County. I would not think it would pass the Senate right now, he said. That means the Senate bill needs at least 10 Republicans to support it, too, in order to overcome a filibuster. The prices of marijuana companies shot up in the stock market on March 24, likely due to the buzz around a potential vote for legalization. The MORE Act is thought to have an uphill battle in the Senate. The Democrats theyve been working with are Baldwin and Sen. Kyrsten Sinema (Ariz.). As usual, the votes for the MORE Act closely followed party lines on both sides, 220-204 in favor of Democrats, repeating the scenario seen in December 2020. The excise tax would be based on the product's sale price and start at a base level of 5% for the first two years. No attorney-client or confidential relationship is formed by the transmission of information between you and the National Law Review website or any of the law firms, attorneys or other professionals or organizations who include content on the National Law Review website. ), whose state haslegalizedrecreational marijuana in recent years, also said he doesnt support legalization, citing serious drug problems in Montana.. "We are not a threat to anybody.". Some of these services include job training, reentry services, legal aid for civil and criminal cases (including expungement of cannabis convictions), literacy programs, youth recreation or mentoring programs, and health education programs. South Dakotans approved a measure to legalize adult-use cannabis 54 to 45 percent in November. Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. During his opening statement, Nadler said that the bill, if made into law, would reverse decades of injustices waged on Americans, and especially those from communities of color. But it went nowhere in the then-Republican majority Senate. "It is too late for them, but we can make sure that it doesn't happen to others in the future.". The MORE Act, which passed the House of Representatives in 2020 only to die in the Senate, would remove marijuana from the federal list of controlled substances. US Executive Branch Update February 28, 2023. April 1, 2022 1:30pm. Transgender people are just trying to live their lives like anybody else," Rogers said. Cannabis decriminalization is not going away and it is time we address the "elephant in the room" at a national level. The MORE Act was passed last year in the House as well, but failed to gain any traction in the Senate. According to Reuters, only 7% of banks and 3% of credit unions offer a cannabis program, and some charge 400x more for a cannabis business account than their usual business banking accounts. This is the second time the bill passed the House; however, it will face strong headwinds in the Senate. The Senate did not give the MORE Act a hearing or a vote in 2020. Friday Development: New Sanctions and Export Controls to Address Weekly IRS Roundup February 20 February 24, 2023, Everything to Know About Unbundled Legal Services. So far, the only GOP senators saying anything about this weeks forthcoming bill are the three who are in the bipartisan group that helped get a deal on the bill in the first place: Sens. NLR does not answer legal questions nor will we refer you to an attorney or other professional if you request such information from us. The Inflation Reduction Act of 2022 is up for debate on the Senate floor. A constant concern is finding cost-effective ways of managing business while not compromising on the highest levels of patient care. The bill, dubbed the MORE Act, was passed mostly along party lines by a vote of 220-204. Lawmakers voted 36-10 to approve Senate Bill 3 following a series of hearings in committees last week. The war on marijuana is a costly relic of the past.. Just three Republicans voted in favor and two Democrats opposed. A commonly cited concern with the planned excise proposed in the MORE Act is the tax, in combination with state and local sales taxes, will make cannabis sold through nonlicensed retailers less expensive thereby bolstering the black-market economy. White House Reviewing Proposed Regulations on Reinstated Superfund You Dont Need a Machine to Predict What the FTC Might Do About Is It Compensable? When asked about the MORE Act, White House Press Secretary Jen Psaki said President Joe Biden agrees with most Democratic lawmakers that our current marijuana laws are not working, but did not specify if Biden supports the MORE Act. Cronos also popped by 9 percent. Confidentiality and Non-Disparagement Agreements with Non-Supervisory USCIS Confirms It Will Accept Employment-Based I-485 Applications New Jersey Enacts Bill of Rights for Temporary Workers, DOJ Implements Nationwide Voluntary Self-Disclosure Program. The legal industry generated $25 billion in sales last year, a 43% increase over 2020, and is expected to hit $65 billion in 2030. This bill simplifies and streamlines the process of beginning research and encourages the FDA to work on developing more cannabis-related medicines. The Respect for Marriage Act will protect marriage equality and ensure individuals in same-sex and interracial marriages are guaranteed the same rights & freedoms as every other marriage. This is for two reasons, one, there are not many banks that take on cannabis related banking, and two, the federal illegality of cannabis increases the amount of paperwork and oversight needed by banks. Joshua Miller works alongside Renautt through Unity Fund. The bill is headed to the House where it's expected to pass, given democratic control of the chamber and Gov. 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