Yesterday, Sen. Bernie Sanders released at 4:20 P.M. an ambitious marijuana legalization plan that is heavy on taxes, spending, regulation, and executive action.
Within the first 100 days of his administration, the Vermont senator and Democratic presidential candidate is promising to issue an executive order instructing the attorney general to deschedule marijuana as a controlled substance under the Controlled Substances Act, something legalization advocates say would be a huge win.
"Directing the attorney general to declassify marijuana would eliminate significant obstacles to medical marijuana research and also alleviate the banking problems facing marijuana companies operating under state law," says Matthew Schweich of the Marijuana Policy Project.
Sanders wants to tax the newly legal marijuana industry to the tune of $50 billion over 10 years, and then spend that revenue on new grant and development programs.
This includes $20 billion in grants to "Entrepreneurs of color who continue to face discrimination in access to capital." Another $10 billion will be given out as grants to "Businesses that are at least 51 percent owned or controlled by those in disproportionately impacted areas or individuals who have been arrested for or convicted of marijuana offenses."
Sanders would establish a separate but similar $10 billion grant program through the U.S. Department of Agriculture to subsidize marijuana grow operations run by people with marijuana arrest or conviction records.
To prevent "Mostly white, mostly male, and already rich 'cannabiz' entrepreneurs" from dominating the industry, Sanders would impose strict, albeit unspecified, market share and franchise caps on marijuana businesses.
https://reason.com/2019/10/25/bernie-sanders-manages-to-make-marijuana-legalization-cost-50-billion/
Within the first 100 days of his administration, the Vermont senator and Democratic presidential candidate is promising to issue an executive order instructing the attorney general to deschedule marijuana as a controlled substance under the Controlled Substances Act, something legalization advocates say would be a huge win.
"Directing the attorney general to declassify marijuana would eliminate significant obstacles to medical marijuana research and also alleviate the banking problems facing marijuana companies operating under state law," says Matthew Schweich of the Marijuana Policy Project.
Sanders wants to tax the newly legal marijuana industry to the tune of $50 billion over 10 years, and then spend that revenue on new grant and development programs.
This includes $20 billion in grants to "Entrepreneurs of color who continue to face discrimination in access to capital." Another $10 billion will be given out as grants to "Businesses that are at least 51 percent owned or controlled by those in disproportionately impacted areas or individuals who have been arrested for or convicted of marijuana offenses."
Sanders would establish a separate but similar $10 billion grant program through the U.S. Department of Agriculture to subsidize marijuana grow operations run by people with marijuana arrest or conviction records.
To prevent "Mostly white, mostly male, and already rich 'cannabiz' entrepreneurs" from dominating the industry, Sanders would impose strict, albeit unspecified, market share and franchise caps on marijuana businesses.
https://reason.com/2019/10/25/bernie-sanders-manages-to-make-marijuana-legalization-cost-50-billion/
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