Senators unveil plan to end federal prohibition of cannabis

finance.yahoo2021-07-14

Senate Majority Leader Chuck Schumer (D., N.Y.), Sen. Ron Wyden (D., Oreg.) and Sen. Cory Booker (D., N.J.) are unveiling a discussion draft of their legislation to end the federal prohibition of ...

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Comments

KS_Lee
2021-07-14
KS_Lee
Major boost to cannabis stocks. Currently most of the listed Co dealing with cannabis or cannabis related products are from Canada. Expect more US companies to get listed in year 2022.
- KS_Lee:
  Thanks for the support
- KH321:
  I hope the senators and their whole family got hook on cannabis.
- yvneyng:
  I echo your sentiments! To the moon with cannabis stocks. [Cool]
Ahoon
2021-07-14
Ahoon
Nice
Jonbong
2021-07-14
Jonbong
Is that a gd news?
- zac90:
  depends on how u see it
Shadowrider
2021-07-14
Shadowrider
Ok
darrius
2021-07-14
darrius
Like and comments
- Shadowrider:
  Ok
Jimmyboy
2021-07-14
Jimmyboy
Please like and comment.
- FunnyFun:
  Ok
- Shadowrider:
  Sure

Leave a comment

118

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Ron Wyden (D., Oreg.) and Sen. Cory Booker (D., N.J.) are unveiling a discussion draft of their legislation to end the federal prohibition of ...</p>\n\n<a href=\"https://finance.yahoo.com/news/senators-unveil-plan-to-end-federal-prohibition-of-cannabis-093005691.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TLRY","symbol_name":"Tilray Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/senators-unveil-plan-to-end-federal-prohibition-of-cannabis-093005691.html","article_id":"1126687531","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1126687531","pubTimestamp":1626255635,"sourceInfo":{"source_id":"lsy1612507957220","name":"finance.yahoo"},"weMediaInfo":null,"summary":"Senate Majority Leader Chuck Schumer (D., N.Y.), Sen. Ron Wyden (D., Oreg.) and Sen. Cory Booker (D.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"TLRY":"Tilray Inc.","ACB":"奥罗拉大麻公司"},"translate_title":"参议员公布结束联邦大麻禁令的计划","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ACB":0.9,"TLRY":0.9},"content_text":"Senate Majority Leader Chuck Schumer (D., N.Y.), Sen. Ron Wyden (D., Oreg.) and Sen. Cory Booker (D., N.J.) are unveiling a discussion draft of their legislation to end the federal prohibition of marijuana. The senators will detail their plan at a press conference on July 14.\nThe proposal— known as the Cannabis Administration and Opportunity Act — calls for removing cannabis from the federal list of controlled substances, allowing states to make their own decisions on cannabis. Many states have already moved to legalize recreational or medicinal marijuana use, but it still remains illegal under federal law.\n\"By ending the failed federal prohibition of cannabis, the Cannabis Administration and Opportunity Act will ensure that Americans – especially Black and Brown Americans – no longer have to fear arrest or be barred from public housing or federal financial aid for higher education for using cannabis in states where it’s legal,\" reads the discussion draft. \"State-compliant cannabis businesses will finally be treated like other businesses and allowed access to essential financial services, like bank accounts and loans. Medical research will no longer be stifled.\"\nServers prepare drinks for guests in front of three of the 50 cash registers at a VIP Event at Planet 13, which has an over-the-top superstore dispensary in Las Vegas, is opening what's billed as the \"second-largest cannabis superstore in the world\" on June 24, 2021 in Santa Ana, CA. 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People who are not U.S. citizens could not be denied benefits or protection under immigration laws.\nThe plan would also create new grant programs to fund nonprofits that help people who have been \"adversely impacted by the War on Drugs.\" It would make loans available to small businesses in the cannabis industry and help states and localities implement cannabis licensing programs.\nPeople congregate on Union Square for Annual Cannabis rally to celebrate legalization of recreational marijuana in New York State. There was free distribution of joints for those who showed vaccination proof as well as signing up. (Photo by Lev Radin/Pacific Press/LightRocket via Getty Images)MoreExcise taxes\nThe plan would impose an excise tax on cannabis products, similar to how the government taxes alcohol and tobacco. The general tax rate would be 10% for the year it's enacted and the full year after. It would gradually rise each year to 25%. Starting in the fifth year, the Treasury Secretary would set a rate based on quantity sold or milligrams of THC. Rates would be based on prevailing price of cannabis sold in the U.S. the prior year.\nCannabis producers with less than $20 million in sales annually would be eligible for a tax credit to reduce their rate by 50%.\n\"When you can legalize something like this — where millions of millions of Americans have already voted that way — that can be a real plus for the economy. Certainly it can be a real plus for small businesses, for communities of color,\" said Wyden in an interview with Yahoo Finance in February.\nCannabis Administration and Opportunity Act, Sens. Booker, Wyden, and Schumer\nPresident Joe Biden backed decriminalization of marijuana on the campaign trail, but the White House has not backed legalization efforts. In December, the Housepassed the MORE Act— which would remove marijuana from the controlled substance list and create restorative justice programs. Earlier this year, Rep. Jerry Nadler (D., N.Y.)reintroducedthe legislation.\nThe senators are asking for input on the proposal by Sept. 1, so they can consider feedback before crafting the final bill. The proposal faces a difficult vote in the evenly-divided Senate.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":144917615,"gmtCreate":1626260865337,"gmtModify":1703756539614,"author":{"id":"3579578865458065","authorId":"3579578865458065","name":"KS_Lee","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579578865458065","authorIdStr":"3579578865458065"},"htmlText":"Major boost to cannabis stocks. Currently most of the listed Co dealing with cannabis or cannabis related products are from Canada. Expect more US companies to get listed in year 2022.","listText":"Major boost to cannabis stocks. Currently most of the listed Co dealing with cannabis or cannabis related products are from Canada. Expect more US companies to get listed in year 2022.","text":"Major boost to cannabis stocks. Currently most of the listed Co dealing with cannabis or cannabis related products are from Canada. Expect more US companies to get listed in year 2022.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/144917615","repostId":1126687531,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5230524,"gmtCreate":1626359268860,"gmtModify":1663231021336,"authorId":3579578865458065,"author":{"id":3579578865458065,"idStr":"3579578865458065","authorId":3579578865458065,"name":"KS_Lee","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":144917615,"type":1,"supId":5217653,"prevId":0,"content":"Thanks for the support","text":"Thanks for the support","html":"Thanks for the support"},{"id":5218898,"gmtCreate":1626272333530,"gmtModify":1663230964853,"authorId":3586451610703869,"author":{"id":3586451610703869,"idStr":"3586451610703869","authorId":3586451610703869,"name":"KH321","avatar":"https://static.tigerbbs.com/c1bb8bd7d6d5df5f9732871fe60999ea","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 100","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"80.97%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":144917615,"type":1,"supId":0,"prevId":0,"content":"I hope the senators and their whole family got hook on cannabis.","text":"I hope the senators and their whole family got hook on cannabis.","html":"I hope the senators and their whole family got hook on cannabis."},{"id":5217653,"gmtCreate":1626266077072,"gmtModify":1663230959627,"authorId":3585192718156791,"author":{"id":3585192718156791,"idStr":"3585192718156791","authorId":3585192718156791,"name":"yvneyng","avatar":"https://static.tigerbbs.com/76e9d3dda84e38df5f92fb2edf5f1be0","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":144917615,"type":1,"supId":0,"prevId":0,"content":"I echo your sentiments! To the moon with cannabis stocks. [Cool]","text":"I echo your sentiments! To the moon with cannabis stocks. [Cool]","html":"I echo your sentiments! To the moon with cannabis stocks. [Cool]"}],"langContent":"EN"},{"id":144919197,"gmtCreate":1626260241019,"gmtModify":1703756528111,"author":{"id":"3581765272832510","authorId":"3581765272832510","name":"Ahoon","avatar":"https://static.tigerbbs.com/81bb43fa20e6b2aea2bff0c8696c78c9","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3581765272832510","authorIdStr":"3581765272832510"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144919197","repostId":1126687531,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":144932927,"gmtCreate":1626259870869,"gmtModify":1703756519942,"author":{"id":"3581450907222502","authorId":"3581450907222502","name":"Jonbong","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581450907222502","authorIdStr":"3581450907222502"},"htmlText":"Is that a gd news?","listText":"Is that a gd news?","text":"Is that a gd news?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/144932927","repostId":1126687531,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5217072,"gmtCreate":1626260631196,"gmtModify":1635229442018,"authorId":3584866808689633,"author":{"id":3584866808689633,"idStr":"3584866808689633","authorId":3584866808689633,"name":"zac90","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-1","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Debut Tiger","description":"Join the tiger community for 500 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and comments","listText":"Like and comments","text":"Like and 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