Rep. Mace (R-SC)’s States Reform Act would deschedule, regulate, and tax cannabis products with a novel federal excise tax design—based on quantities and predefined categories, not dissimilar from how the federal government taxes alcohol and tobacco.
7 min read
Taxes will play an important role in the success or failure of federal cannabis reform. Since the federal government is late to the party, it should proceed with caution when imposing new taxes.
24 min read
Senate Majority Leader Chuck Schumer (D), Senate Finance Committee Chairman Ron Wyden (D), and Sen. Cory Booker (D) released their discussion draft—the Cannabis Administration and Opportunity Act—for federal descheduling of marijuana. While federal descheduling impacts all states, it does not deschedule marijuana in states which choose to keep their own ban.
6 min read
Federal lawmakers re-introduced the MORE Act, the most significant federal legislative development on marijuana policy in 50 years. The MORE Act would impose a federal excise tax on marijuana at a rate from 5 to 8 percent.
7 min read