25% Federal Marijuana Tax, Not Enough Votes, Blocking the Safe Banking Act – Schumer’s Legalization Stumbles Out of the Gate

While not a perfect legalization bill by far, it is a FEDERAL LEGALIZATION BILL, so let’s take our own advice and win the war and lose a few battles. This is great news and it is the first time a majority speaker of the House has ever introduced a cannabis legalization bill. He may not get it passed, but he did put it out there.  The Safe Banking Act, while it does not legalize cannabis, gives legal businesses access to banks and credit cards.  Both bills are extremely important and should get the cannabis industries full support. Will the Cannabis Administration and Opportunity Act pass? Probably not, but it will set the groundwork and lay a plan for Federal legalization.

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