The Biden administration announced the long-awaited rescheduling of cannabis from schedule I to schedule III. This reschedule eliminates the vestige of the failed war on drugs started by the Nixon administration. Contrary to science, it was used for political purposes against Black Americans, young Americans. A schedule I controlled substance, which cannabis has been for over 50 years, is one that has no medicinal value and is highly addictive. At the time the Nixon administration made that determination, they knew that that was false. It is not highly addictive, and it has, in fact, medicinal purposes. That has been demonstrated by vote after vote by Americans across the country that recognize that medical cannabis has tremendous therapeutic features. I could not be more excited or optimistic that we are finally on the homestretch to end the failed and misguided war on drugs. This action by the Biden administration ties together many of our initiatives, from justice to research to tax fairness, and charts the path for more progress sooner. {time} 1045 One of the overhauls here is the prohibition of the State legal cannabis businesses from banking services. Every day in the United States, there are people with shopping bags full of $20 bills that they use to pay their State taxes. Think of it. It is outrageous. It has made these State legal cannabis businesses sitting ducks for robbery, and it severely handicaps their ability to work in a constructive fashion.…
On the recordMay 1, 2024
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