Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

U.S. House votes to decriminalize marijuana at federal level

EconomyDec 04, 2020 01:45PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Marijuana enthusiasts gather after midnight to celebrate the legalization of recreational use of marijuana in Portland, Oregon

By Susan Cornwell

WASHINGTON (Reuters) - The U.S. House of Representatives voted on Friday to decriminalize marijuana at the federal level, but the legislation is not expected to advance further as long as the Senate remains in Republican hands.

It was the first time either chamber of Congress has voted to end the federal ban on marijuana since the drug was listed as a "controlled substance" in 1970.

Fifteen U.S. states and the District of Columbia have legalized recreational use of marijuana, and over 30 states allow some form of the drug for medicinal purposes. U.S. cannabis sales hit record levels over the Thanksgiving weekend.

But the federal ban on the drug persists, which creates conflicts with state laws and limits cannabis companies' access to banking services and funding.

The Democratic-majority House voted 228-164, largely along party lines, to lift the federal prohibition. But Senate Majority Leader Mitch McConnell, a Republican, is an opponent of the change, meaning a decriminalization proposal is unlikely to see Senate action unless Democrats manage to win both Georgia Senate seats and with them Senate control in a Jan. 5 runoff election.

The bill the House passed would allow states to regulate marijuana, Representative Earl Blumenauer, a Democrat and co-chairman of the Congressional Cannabis Caucus, said in debate.

“This legislation does not legalize cannabis across the country. It stops the federal government from interfering with what states have decided to do," he said.

Republican Representative Debbie Lesko said she found it incredible that Democrats were talking about "legalizing marijuana" instead of focusing on passing more relief from the coronavirus pandemic. "Sometimes I think that the world is turned upside down," she said.

In fact, the House in May passed a mammoth coronavirus aid bill, but it did not advance in the Republican-run Senate. Negotiations are underway on a smaller compromise bill.

The cannabis bill would expunge federal marijuana convictions and impose a 5% tax on cannabis products. The revenue raised would help reinvest in communities most adversely impacted by enforcement of the law, Blumenauer said.

U.S. House votes to decriminalize marijuana at federal level
 

Related Articles

Beto plans Texas comeback in governor's race -Axios
Beto plans Texas comeback in governor's race -Axios By Reuters - Sep 19, 2021 7

(Reuters) - Former Congressman Beto O'Rourke is preparing to run for governor of Texas in 2022, a move that would pit a high-profile Democratic challenger against the current...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Me comment
Me comment Dec 04, 2020 2:57PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
McConnell needs to get out of his 1940's mindset and get into the 21st century.
Florin Tudor
Florin Tudor Dec 04, 2020 2:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
verry nice!!
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email