{"id":74773,"date":"2024-04-30T12:38:33","date_gmt":"2024-04-30T20:38:33","guid":{"rendered":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2024\/04\/30\/schumer-says-dea-marijuana-rescheduling-decision-is-historic-but-he-remains-strongly-committed-to-passing-banking-and-legalization-bills\/"},"modified":"2024-04-30T12:45:29","modified_gmt":"2024-04-30T20:45:29","slug":"schumer-says-dea-marijuana-rescheduling-decision-is-historic-but-he-remains-strongly-committed-to-passing-banking-and-legalization-bills","status":"publish","type":"post","link":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2024\/04\/30\/schumer-says-dea-marijuana-rescheduling-decision-is-historic-but-he-remains-strongly-committed-to-passing-banking-and-legalization-bills\/","title":{"rendered":"Schumer Says DEA Marijuana Rescheduling Decision Is \u2018Historic,\u2019 But He Remains \u2018Strongly Committed\u2019 To Passing Banking And Legalization Bills"},"content":{"rendered":"<\/p>\n

Senate Majority Leader Chuck Schumer (D-NY) says that while the Drug Enforcement Administration\u2019s (DEA) reported decision to propose marijuana rescheduling<\/a> is a \u201chistoric step forward,\u201d he remains \u201cstrongly committed\u201d to advancing cannabis banking and legalization legislation this session.<\/p>\n

As DEA prepares to formally initial rulemaking to move cannabis from Schedule I to Schedule III of the Controlled Substances Act (CSA), Schumer said in a statement on Tuesday that this isn\u2019t the end of marijuana policy reform this Congress.<\/p>\n

\u201cIt is great news that DEA is finally recognizing that restrictive and draconian cannabis laws need to change to catch up to what science and the majority of Americans have said loud and clear,\u201d the majority leader said.<\/p>\n

\u201cWhile this rescheduling announcement is a historic step forward, I remain strongly committed to continuing to work on legislation like the SAFER Banking Act as well as the Cannabis Administration and Opportunity Act [CAOA], which federally deschedules cannabis by removing it from the Controlled Substances Act,\u201d he said.<\/p>\n

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\u201cCongress must do everything we can to end the federal prohibition on cannabis and address longstanding harms caused by the War on Drugs.\u201d<\/p>\n<\/blockquote>\n

The SAFER Banking Act that Schumer referenced already moved through the Senate Banking Committee last September. The legalization bill, meanwhile, is expected to be reintroduced imminently, after Schumer and other prime sponsors solicited support from colleagues, with a deadline to sign on passing last week.<\/p>\n

How news of DEA\u2019s rescheduling decision affects the prospects of advancing other cannabis legislation is yet to be seen. The SAFER Banking Act already enjoys bipartisan support, though sources have said Republican leadership\u2014principally Senate Minority Leader Mitch McConnell (R-KY)\u2014has posed an obstacles to pushing it forward as part of an unrelated aviation bill<\/a> alongside cryptocurrency regulations legislation.<\/p>\n

As advocates have been quick to remind observers, a Schedule III reclassification would not federally legalize marijuana. It would, however, remove research barriers and allow state-licensed cannabis businesses to take federal tax deductions, among other modest effects.<\/p>\n

The SAFER Banking Act, meanwhile, is another key objective for stakeholders this session that would provide protections for financial institutions that work with state-legal marijuana firms.<\/p>\n

Rep. Nancy Mace (R-SC) said during an interview with The Dales Report on Tuesday that DEA\u2019s possible reclassification of cannabis is something she\u2019s \u201cgoing to be looking at\u201d in terms of how it affects the SAFER Banking Act<\/a>, as well as her own separate legalization bill.<\/p>\n

\u201cHow does this affect things moving forward? What\u2019s the next goalpost?\u201d she said.<\/p>\n

Schumer\u2019s mention of CAOA comes before the bill has been officially reintroduced this session, though he previously said he planned to file it this month, which ends on Tuesday<\/a>. Regardless of the potential reclassification of marijuana under the CSA, that measure\u2019s prospects remain dubious, as it\u2019s unlikely to generate enough bipartisan support to clear the Senate\u2019s steep 60-vote threshold or be taken up in the GOP-controlled House under the leadership of anti-cannabis Speaker Mike Johnson (R-LA).<\/p>\n

In any case, the cannabis activists have largely responded positively to the DEA news<\/a>.<\/p>\n

After all, this marks the first time that DEA has recognized the medical value and relatively low abuse potential of cannabis since prohibition was codified more than 50 years ago. The scheduling review, directed by President Joe Biden, could mean that a historic shift in federal marijuana policy is imminent.<\/p>\n

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Lawmakers, Advocates And Stakeholders React To DEA\u2019s Historic Marijuana Rescheduling Decision, With Many Calling For Bolder Reform<\/a><\/p>\n<\/blockquote>\n

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The post Schumer Says DEA Marijuana Rescheduling Decision Is \u2018Historic,\u2019 But He Remains \u2018Strongly Committed\u2019 To Passing Banking And Legalization Bills<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n


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\nRead More: Schumer Says DEA Marijuana Rescheduling Decision Is \u2018Historic,\u2019 But He Remains \u2018Strongly Committed\u2019 To Passing Banking And Legalization Bills<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Senate Majority Leader Chuck Schumer (D-NY) says that while the Drug Enforcement Administration\u2019s (DEA) reported decision to propose marijuana rescheduling is a \u201chistoric step forward,\u201d he remains \u201cstrongly committed\u201d to advancing cannabis banking and legalization legislation this session. As DEA prepares to formally initial rulemaking to move cannabis from ScheduleContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":458,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18,81],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/74773"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/458"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=74773"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/74773\/revisions"}],"predecessor-version":[{"id":74774,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/74773\/revisions\/74774"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=74773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=74773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=74773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}