Marijuana Legalization: Bill Would Make Pot Legal Nationwide, Place Federal Tax On It

Marijuana legalization may soon spread nationwide with two Congressmen trying to strip the drug of its Schedule 1 classification and instead regulate the drug the same way as alcohol. Representatives Jared Polis of Colorado and Earl Blumenauer of Oregon are pushing for a bill that would repeal marijuana prohibition nationwide while also providing an opportunity for the cannabis industry to grow nationwide. Polis wants the federal government to treat marijuana the way it does alcohol — and even named his bill the “Regulate Marijuana Like Alcohol Act.” The bill would set parameters for the Bureau of Alcohol. Tobacco, Firearms and Explosives to create regulations for the sale of marijuana nationwide. A second bill would set a federal tax for marijuana. Polis said there is a good example in Colorado, where legalized marijuana has led to a booming cannabis industry and put millions of dollars back in the tax coffers. “Over...

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