US: Majority leader Schumer presented a draft bill for federal cannabis legalization

Senator Chuck Schumer of New York proposed ambitious legislation on Wednesday to decriminalize marijuana at the federal level, the NYT reported.

In a nutshell, the proposal would allow only people over the age of 21 to purchase cannabis, while CBD products would be sold as dietary supplements. Since cannabis would no be longer a controlled substance, research institutions can more easily conduct research on cannabis. 

Part of the proposal also addresses social justice, as it establishes three grant programs to support socially and economically disadvantaged individuals affected by the war on drugs to enter the cannabis industry. 

Initially, cannabis would have a 10% excise tax, which would then increase by 5% every year, for the next four years. Smaller producers would be eligible for tax breaks. 


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