Congress could finally advance a measure to legalize cannabis federally this legislative session. Representatives Jerrold Nadler, Ilhan Omar, Nydia Velázquez, and Dina Titus have once again put forward the MORE Act. The measure is one of the most far-reaching pieces of cannabis reform ever introduced in Congress.
Now in its fourth version, the 91-page legislation would remove cannabis from the federal list of controlled substances, effectively legalizing it nationwide and ending the inconsistent rules across different states.
It also seeks to correct the harm caused by decades of harsh drug policies, especially in low-income neighborhoods and communities of color. It mandates the review and clearing of past cannabis-related convictions, giving many people a fresh chance at employment, education, and personal growth. Young offenders would also benefit equally from these changes.
A major financial component of the bill is a 5 percent federal tax on cannabis sales. Revenue from this tax would go into an Opportunity Trust Fund, which would be used to support the community reinvestment, cannabis opportunity, and equitable licensing grant programs.
The bill would also make cannabis businesses eligible for Small Business Administration (SBA) loans and services, which are currently off-limits to them.
It also directs the Bureau of Labor Statistics to gather detailed demographic information on the industry, ensuring participation from historically excluded groups, including people of color and those from lower-income backgrounds.
Previous attempts at passing the MORE Act have gained traction in the House. The chamber approved earlier versions twice, including a 220–204 vote in April 2022 that fell along party lines. However, despite attracting 95 co-sponsors in the last Congress, the legislation stalled in the GOP-led House.
The measure has drawn widespread backing from advocacy organizations across multiple fields, including criminal justice reform, civil rights, immigration, labor, and health. Supporters range from national groups like the ACLU, Drug Policy Alliance, and the Southern Poverty Law Center to local chapters of NORML and grassroots organizations such as JustLeadershipUSA, the Minority Cannabis Business Association, and Students for Sensible Drug Policy.
The reintroduction comes at a time when cannabis policy is also being debated at the executive level. President Donald Trump has expressed interest in moving cannabis from a Schedule I drug, where it is currently grouped with substances like heroin, to Schedule III. The reclassification process began under the Biden administration but has been stalled since early this year.
The broader cannabis industry, including entities like Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), will be watching to see whether this year’s attempt to pass this major reform bill will succeed where previous attempts have hit a wall.
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