Biden administration intends to reclassify marijuana, reducing restrictions across the country

The Biden administration plans to ease federal restrictions on cannabis by reclassifying it from Schedule I to Schedule III, acknowledging potential medical benefits. This move would allow for medical marijuana research and involvement from pharmaceutical companies. It would also eliminate tax burdens for legal cannabis businesses and potentially reduce the black market. Although there may be challenges ahead, such as a public review period and potential Congressional intervention, there is growing bipartisan support for marijuana reforms. Congress is also considering bills to support legal marijuana businesses and provide resources for expunging cannabis-related criminal records. Senator Cory Booker praised the administration’s move but emphasized the need for further action to address lingering issues related to cannabis laws and regulations.

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