Recently the STATES Act is again back on center stage. The Senate is all set to revive the Act in support of the legalization of cannabis in several states. The Bipartisan Bill was reintroduced by the Sen Warren and Sen Gardner a week back. According to the Bipartisan Bill, the states can take their policies and rules for the legalization of cannabis. No federal intervention will take place in here.
The STATES Act:
Strengthening the Tenth Amendment Through Entrusting States Act or STATES Act was first introduced a year back by Elizabeth Warren and Cory Gardner. Under this Act, the states which have already legalized cannabis can take any decision regarding the policies and regulations. These regulations will be levied on the cannabis business in that said state.
Also, there will not be any intervention by the federal government in this case. States can change/revise the regulations and policies anytime they want without the Federal Government’s permission. This Act was not indicating the legalization of cannabis under Federal law; however, passing this bill shows that Federal will not restrict the states in case of legalization of Cannabis within the states’ boundary.
The Act will not only allow states to make decisions but also it will look into the matters where the Federal law and State Law are clashing with each other. Issues like Traffic rules and cannabis consumption can be sorted through this Act.
Signed or Not?
The Bill is not signed yet by the President of the USA, Mr. Donald Trump. The reintroduction does not mean that the bill will be passed. Although Warren, who will be seen as a nominee in 2020 Presidential Election, said that the Bill could be passed soon as the SAFE Banking Act has already been considered for the Cannabis Industry.
Cannabis Industry has shown a lot of potential in the past few years. As the Federal Law still has not legalized cannabis, the marijuana banking solutions are kept unsolved as well. This restricts the growth in the industry massively. However, many private businesses have come up with cannabis merchant accounts which help the manufacturers, patients, and dispensaries to make payments easily.
The Congressional Cannabis Caucus founder, Blumenauer said that this STATES Act would break the restricted system for better opportunities and growth in the cannabis industry. It is high time for Congress to catch up with the pace and support the financial development in the said industry.
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