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While there are still many significant obstacles to overcome before any such legislation can be codified into law, firms remain optimistic. Stifel analyst Andrew Partheniou went on to explain, “We believe Sen. Schumer’s comments outline a bill that resembles the STATES Act, but includes social justice provisions, and could address obstacles (such as the onerous Section 280E tax provision) to have a significant positive impact on cannabis operators’ regulatory environment.”

Schumer submitted a bill to deschedule marijuana in 2018 that failed to pass. His latest attempt draws from several such bills that have made their way to the floor over the last several decades. This time around, Schumer has a strong bipartisan contingent of Democrat and Republican Senators working alongside him to improve this bill’s chances of success.

https://www.9leaves.com/news/all-strains/u-s-senate-majority-leader-chuck-schumer-announces-marijuana-legalization-bill/