With the recent Georgia Senate Runoffs coming to a close, Democrats Jon Ossoff and Raphael Warnock have been declared the victors of the state over Republicans Kelly Loeffler and David Perdue and with this, marijuana reform could be on the horizon.
These victories give the Democrats 50 seats in the Senate, with Vice President-elect Kamala Harris holding the tiebreaking vote. Along with this, outgoing Republican Senate Majority Leader, Mitch McConnell is likely to be replaced by top Democrat candidate Chuck Schumer.
McConnell has been a strong opposition against Cannabis reform. McConnell has been on record stating that House Speaker Nancy Pelosi was
“still agitating for strange, new special interest carve-outs for the marijuana industry and even claiming they are COVID-related.” as well as
“She said that, with respect to this virus, marijuana is ‘a therapy that has proven successful.’ You can’t make this up,” said begrudgingly by the former Senate Majority Leader in regards to a Covid 19 Relief bill that would have gave banks that service state-legal marijuana businesses protections from being penalized by federal regulators.
According to Marijuana Moment, Schumer has said in October that he will put his own descheduling bill “on the floor” and that he thinks “we’ll have a good chance to pass it.”
This is good news for Cannabis companies as President Elect Joe Biden is likely to opt for decriminalization of cannabis although his stance on cannabis in general seems to have mixed feelings.
Despite this, more progressive Democrats as well as a majority of US voters are in favor of full legalization and the loosening of Marijuana laws are likely to be introduced throughout the new presidency.
Conclusion
With a Democrat controlled Senate, House, and Presidency, things are looking brighter for the cannabis industry as the representative’s constituents continue to push for reform.
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