NEWS BRIEF

Schumer to reintroduce federal cannabis reform bill

Senate Minority Leader Chuck Schumer on Thursday said he intends to reintroduce his bill to remove marijuana from the U.S. controlled substances list, a move that would permit states to regulate cannabis without fear of federal interference.

Rep. Hakeem Jeffries, a Democrat from New York, will introduce the House version of the bill – called the Marijuana Freedom and Opportunity Act.

In addition to removing marijuana from the Controlled Substances Act, the measure would earmark a percentage of industry income tax revenues for small loans for women- and minority-owned cannabis businesses.

Schumer, also a New York Democrat, first introduced the bill last June.

That version collected nine co-sponsors in the Senate.

Comprehensive marijuana reform is expected to face an uphill battle, especially in the Republican-controlled Senate.

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