Senator Schumer to Box Out Big Cannabis in New Bill

In a recent interview, Senate Majority Leader Chuck Schumer (D-NY) demands to keep the heavy hitters out of the cannabis industry in support of developing opportunities for mom-and-pop operators when cannabis is federally approved. Sen. Schumer stated that his forthcoming measure achieves such.

In a dialogue between Schumer and New York’s head state cannabis authority on Black Enterprise’s cannabis vertical, the New York senator discussed forming a federal reform bill after the state’s newly-enacted cannabis measure, with a distinct focus on social equity.

‘The [NY administration] is lifting a page from the state’s book while trying to do fundamentally what was done across the nation,’ Schumer generally states to then-Democratic Assemblywoman Tremaine Wright, who now leads New York’s Cannabis Control Board.

‘What it will do is guarantee that Americans in all areas won’t be imprisoned or barred from acquiring services for consuming cannabis where the plant is legal due to the state’s making it legal.’

Schumer highlighted in the Green Entrepreneur account that the measure he’s designing alongside the Finance Committee Chairman Ron Wyden (D-OR) and Senator Cory Booker (D-NJ) is being devised with small businesses at the forefront.

‘We don’t require the big boys (heavy hitters) to come [into the cannabis market,’ Senator Schumer generally said. ‘After all the [cannabis-related injustices and prejudice] that’s been occurring in communities like the one [we] serve in Brooklyn, To have the [cannabis magnates]  come in and make all the revenue is silly.’

He’s made related remarks in the past, emphasizing that his reform measure will take distinct steps to reduce the ability of prominent alcohol and tobacco organizations to overhaul the industry.

Continuing on, Senator Schumer basically discussed the distribution of taxation and cannabis sales following his Cannabis Administration and Opportunity Act, or CAOA.

‘We’re going to ensure that the revenue that’s gained does not simply go into the federal treasury. Instead, the funds go into positive types of activities in conjunction with restorative justice, dealing with neighborhood violence measures, and dealing with various other issues—community centers and tangibles.’

Also, in the discussion, Senator Schumer spouted the elephant in the room: Can a total cannabis legalization bill actually survive in U.S. Congress?

‘The answer is yes,’ Schumer said. ‘Initially, we’re getting some Republican backing in the country. And next, the country understands that all the myths concerning cannabis are simply that: myths. I think [Congress] has a legit shot. We’re going to keep pushing at it until we get it passed.’

Some of Senator Schumer’s colleagues are not as confident. Furthermore, many stakeholders of the cannabis industry have made the point that legislation should advance more moderate, bipartisan cannabis reform to protect banks that operate in state-legal cannabis spaces. This will arguably stand a more substantial chance of being successful in session.

Earlier this summer, Senator Schumer said that he and his collaborators have an ‘arrangement’ that the group will not bring forth cannabis banking measures until more extensive cannabis measures moves.

Senator Schumer has been very active regarding the issue of cannabis reform. Earlier this Spring, the senator sat down with NBA legends (who also operate in the cannabis industry) regarding cannabis reform and basketball. The senator shared similar views of cannabis reform. This includes measures regarding expungement of prior cannabis convictions, using cannabis tax dollars for socially-forward causes, and an increase in social equity of the cannabis industry.

Coincidentally, the NBA announced they would not permit players to random drug tests related to cannabis suspicions. The ripple effect Schumer has on cannabis culture, and cannabis legislation continues.

We here at Stickyleaf will keep you updated on Senator Schumer’s cannabis news as it develops.

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