IHL 0.00% 4.1¢ incannex healthcare limited

The legislation, dubbed the Marijuana Opportunity Reinvestment...

  1. 1,074 Posts.
    lightbulb Created with Sketch. 186
    The legislation, dubbed the Marijuana Opportunity Reinvestment and Expungement Act, passed in the House last year, but did not move forward in the Senate. In addition to decriminalizing marijuana at the federal level, the bill would establish procedures for expunging previous convictions from people's records and impose a tax on the sale of cannabis products.

    The House is closing in on passing landmark legislation to legalize marijuana nationwide and significant support in both chambers of Congress gives the long-time effort a chance to become law.

    House Democrats passed legislation to decriminalize marijuana in December 2020, but the Republican-led Senate spiked the effort. Republicans on board with legalization, including Rep. Nancy Mace, R-S.C., who has her own bill with GOP co-sponsors: Reps. Brian Mast, R-Fla.; Tom McClintock, R-Calif.; and Peter Meijer, R-Mich.

    There are 37 states that already permit cannabis for medicinal use, while at least 18 states, two territories and Washington, D.C., permit recreational pot, according to the National Conference of State Legislatures.

    "Americans have made their support for cannabis legalization abundantly clear, and states across the country have taken the lead on cannabis legalization," Marijuana Policy Project CEO Toi Hutchinson told The Hill. Congressional Cannabis Caucus co-chair Rep. Earl Blumenauer, D-Ore., thinks a bill decriminalizing pot can reach the 60-vote threshold in the Senate.

 
watchlist Created with Sketch. Add IHL (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.