Cannabis News - The Marijuana Justice Act Introduced into the House of Representatives.
The Republican Representative Barbara Lee of California has introduced the Marijuana Justice Act along with a dozen original co-sponsors.
“I’m proud to introduce the Marijuana Justice Act – bold, progressive legislation to address the legacy of racial bias in marijuana enforcement and to end the failed War on Drugs,” said Congresswoman Barbara Lee. “Today, we are asking Congress to turn the page on decades of unjust marijuana prohibition and forge a new path forward. It’s past time that we take decisive action to right the wrongs from decades of misguided policies.”
The coverage was initially reported by NORMAL, an organization to move public opinion sufficiently to legalize the responsible use of marijuana by adults, and to serve as an advocate for consumers to assure they have access to high quality marijuana that is safe, convenient and affordable. Feel free to join their cause and donate if possible.
The Act is submitted in both chambers of Congress to remove marijuana from the Controlled Substances Act (CSA), and it provides for a path forwards on the failed War on Drugs so it doesn't target ethnic groups, individuals and communities that have been affected by the current laws.
The Marijuana Justice Act of 2017 would:
*Remove marijuana from the list of controlled substances making it legal at the federal level;
*Incentivize states through federal funds to change their marijuana laws if marijuana in the state is illegal and it disproportionately arrests or incarcerates minority and poor people for marijuana-related offenses;
*Automatically expunge federal marijuana use and possession crimes;
*Allow individuals currently serving time in federal prison to petition a court for a resentencing;
*Create a community reinvestment fund to invest in communities most impacted by the failed War on Drugs and allows the money to go towards the following programs:*Job training;
*Reentry services;
*Expenses related to the expungement of convictions;
*Public libraries;
*Community centers;
*Programs and opportunities dedicated to youth; and
*Health education programs
I think this is great news and it shows there is continued support from members of the House of Representatives to address the failed War on Drugs, in particular with regards to marijuana. While it would be nice to say cannabis legalization should already be here and the laws removed altogether from the books, the introduction of this Act to the House of Representatives is a step in the right direction for the United States.
Recently I published a blog, Jeff Sessions Ends Policy That Allowed Legal Cannabis, MJ Stocks Sell Off, and discussed the issues the US faces and how cannabis stocks sold off. Since then, the stocks have recovered and have shrugged off the news from the Justice Dept.
See how the United States Marijuana Index dropped below 100 and down to about 82 on the Jeff Sessions news, since then the stocks have recovered, but are starting to move sideways. While I remain bullish on the cannabis sector as a whole, the US based companies and stock prices may not continue to advance to new highs, much like the Canadian Marijuana Stock Index is doing.
Maybe for now, the safest place to invest in the cannabis sector is in the Canadian stocks and Licensed producers.
There have been some major financing deals announced in Canada from 2 major Licensed Producers. Both deals are over $100 million and are very significant in terms of size and market acceptance.
Jan 16 2018 - TGOD ANNOUNCES CLOSING OF $112 MILLION FINANCING AND STRATEGIC INVESTMENT BY AURORA CANNABIS INC.. Back at the end of 2016, we introduced the Green Organic Dutchman to our subscribers, they are a licensed producer in Canada with some tremendous upside potential. When we first introduced the company, they were raising capital at $0.50, they closed this financing round at $1.65. Follow the link to our company directory listing for TGOD, we have a special report on them we did back in Feb 2017.
Jan 18 2018 - BMO first major bank to lead marijuana equity financing with Canopy Growth Corp This is exciting news to see a major bank in Canada finally participate in the Cannabis industry and start financing larger cannabis licensed producers, the fact that Canopy has a $7 Billion dollar market cap and now big banks are investing in the space gives credibility to the Canadian cannabis sector.
For more coverage on the cannabis sector, please visit:
Recent Posts on Steemit:
https://steemit.com/cannabis/@vinmaru/los-angeles-cannabis-investment-group-meetup-jan-17-vin-maru-guest-speaker
https://steemit.com/crypto/@vinmaru/crypto-crash-or-correction-market-capitalization-drops-by-30-now-what
Another great cannabis news wrap up. Some good news. Keep it up.
Thanks for the comment and vote.
One of the folks I do some work for is in the industry. I worry about Federales causing him trouble, cuz it would not only hurt my friend, but cost me money.
Regarding the legislation, I reckon it's DOA, and I hope that's true. While removing cannabis from the Schedule is a good thing, creating new bureaucracies isn't.
Just deschedule it, and stay the hell away, legislators!
Thanks!
yes, Decriminalize it, so it is not "Legalized" with tons of rules... let people do what they want for personal consumption. For commercial activities, it should be community driven for oversight and how it gets setup... of course this would be asking too much from regulators in their eyes.
Good news voted and followed
Thanks for following and the vote.
Its about time that our government stops this dumb war on drugs. Its so sickening seeing criminals run the show. Thanks for the informative post.
Thanks, I agree with you... Stop the War on Drugs, and get the politicians out of way.
Thanks for the heads up and the wrap up. I have been invested in cannabis for quite some time. I wrote about it here http://mymark.mx/TIB54 for the first time. My thesis is to invest in markets where cannabis has been legalised for medicinal and/or recreational use. Anything done in advance of the legalisation is prey to the wiles of politicians and regulators and hence volatile and speculative.
My main investment (MMJ Phytotech - MMJ.AX) is focused on Canada (owns 60% of Harvest One), Israel, Switzerland and Australia - all markets where there is a level of legalisation.
@carrinm, thank for the vote and good to find another cannabis investor on Steemit...hopefully we can spread the word that the cannabis sector is a great place to invest, right alongside Cryptos (after a healthy correction we are seeing). I primarily focus on the large-scale Licensed Producers in Canada, they are seeing lots of buying from fund managers, brokers and now banks.
I read your article about the cannabis company and investing in the space, great read and I will look at MMJ Phytotech. Today, I shared the news from FV Pharma to our accredited investor subscribers, they announced a financing. They are a Licensed Producer in Canada and have the largest indoor facility in the world, the old Kraft building which is 820K square foot.
It's an exciting time to be an investor in the Cannabis Sector, lots of opportunities opening up all around the world and we provide coverage on our site at http://www.investinmj.com/.
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