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.
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https://steemit.com/cannabis/@vinmaru/los-angeles-cannabis-investment-group-meetup-jan-17-vin-maru-guest-speaker
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