Cannabis Stocks: Why TLRY, APHA, OGI, GRWG, SNDL Stocks Are ClimbingPosted by On


Cannabis stocks are on the rise today after some comments by Senate Democrats regarding legalization. Chuck Schumer and a constituency of cannabis supporters are pushing to get a federal bill passed as soon as possible. Meanwhile, New York joined the ranks of Washington and Colorado as the 15th state to legalize recreational cannabis.

multiple jars of different sizes carrying marijuana

Source: Shutterstock

Senate Majority Leader Chuck Schumer is reportedly drafting a bill with Oregon Sen. Ron Wyden and New Jersey Sen. Cory Booker. The bill will deescalate cannabis from the list of controlled substances. And, while it doesn’t specifically use the word “legalization,” it will give states the green light to draft their own legislation over the substance.

Democrat lawmakers’ pushes to draft marijuana legislation come in tandem with the huge news that New York is now the 15th state to legalize recreational cannabis. Gov. Andrew Cuomo is signing the bill Wednesday morning and says the state expects around $350 million in annual tax revenue from the law. The law also expunges marijuana-related convictions from records. This is a huge win for social equity, given racial disparities in arrests for marijuana-related offenses. In 2020, people of color represented 94% of all arrests. With this in mind, the New York Times reported that 46% of revenue from cannabis sales will go toward Black and Latino communities in New York.

Cannabis legislation is a longstanding partisan issue within Congress. However,…

Original Author Link click here to read complete story..

Cannabis stocks are on the rise today after some comments by Senate Democrats regarding legalization. Chuck Schumer and a constituency of cannabis supporters are pushing to get a federal bill passed as soon as possible. Meanwhile, New York joined the ranks of Washington and Colorado as the 15th state to legalize recreational cannabis.

multiple jars of different sizes carrying marijuana

Source: Shutterstock

Senate Majority Leader Chuck Schumer is reportedly drafting a bill with Oregon Sen. Ron Wyden and New Jersey Sen. Cory Booker. The bill will deescalate cannabis from the list of controlled substances. And, while it doesn’t specifically use the word “legalization,” it will give states the green light to draft their own legislation over the substance.

Democrat lawmakers’ pushes to draft marijuana legislation come in tandem with the huge news that New York is now the 15th state to legalize recreational cannabis. Gov. Andrew Cuomo is signing the bill Wednesday morning and says the state expects around $350 million in annual tax revenue from the law. The law also expunges marijuana-related convictions from records. This is a huge win for social equity, given racial disparities in arrests for marijuana-related offenses. In 2020, people of color represented 94% of all arrests. With this in mind, the New York Times reported that 46% of revenue from cannabis sales will go toward Black and Latino communities in New York.

Cannabis legislation is a longstanding partisan issue within Congress. However,…



Source link

News

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.