On Wednesday night, Democratic presidential candidate Bernie Sanders announced a proposal to dramatically shift marijuana policy in the United States.
At a campaign stop in Virginia, Sen. Sanders announced he would be proposing new legislation in the coming weeks to remove cannabis from the list of Controlled Substances—a move many call “descheduling.”
In many ways, this would be the most aggressive change—short of national legalization—that Congress could make, and Sanders is the most prominent official in the United States to support such a move.
There is a bit we know about what this proposal could mean, and there is much we don’t quite yet know. Let’s break down each.
What do we know about Sanders’ descheduling proposal?
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1. Legislation is the easiest way to change drug scheduling
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Sen. Sanders’ proposal will come not from his ambition to become president, but from the office he currently holds: Senator.
This effort will actually be more efficient than the executive action route, as I have written previously with Grace Wallack. Congress has within its power to amend the Controlled Substances Act and reschedule a substance or remove it entirely from the jurisdiction of that law.
The video above explores the current web of policy and regulation surrounding marijuana and also illustrates the paths toward reform.
2. If passed, most states would automatically follow suit…maybe…
Under the Uniform Controlled Substances Act, most states have a procedure in place for changing state law in tandem with federal policy if the federal government makes changes to the scheduling of a substance.
That process is largely automatic within a given timeframe. The catch? It is subject to an appeal from an interested party or concerned citizen—appeals that are guaranteed due process.
One can be certain several states will see appeals, but there is no doubt the shift in federal policy would have a ripple effect on state scheduling policy.
3. It would transform the marijuana industry
By descheduling marijuana, marijuana enterprises would see substantial economic benefits. They would no longer run into challenges accessing financial tools like bank accounts, lines of credit, business loans, mortgages, etc. Currently, the Federal Reserve and financial regulations bar banks from working with organizations that traffic in illegal substances.
Given marijuana’s scheduling status, those regulations hinder (some argue cripple) the marijuana industry, severely limiting growth and creating serious safety and security concerns associated with a cash-only business model.
Washington Post’s Chris Ingraham noted the importance of this change and the added benefit of marijuana enterprises being able to access typical business tax benefits, as well. It would certainly translate into growth, profits, employment expansion, and reduced costs for the industry.
See the rest of the story at Business Insider