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Cannabis Legalization Gains Major Momentum 2023

2023 and The Road To Cannabis Legalization

Informed Insight
2 days ago
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Cannabis Legalization Gains Major Momentum

2023 and The Road To Cannabis Legalization

In 2023, federal cannabis legalization efforts continued to gain momentum in the United States. After years of individual states legalizing cannabis for medical and/or recreational use, the federal government finally began to seriously consider its legalization. The ongoing debate over cannabis legalization is multifaceted, with a range of factors at play, including economic, political, social, and public health concerns. This article will explore the state of federal cannabis legalization efforts in 2023, and the potential implications for the country.

Background

The road to federal cannabis legalization has been a long and winding one. In the 1930s, the federal government began cracking down on cannabis, ultimately leading to its classification as a Schedule I drug in 1970, alongside heroin and LSD. This classification made it illegal at the federal level, effectively shutting down any efforts at legalization. However, over the past decade, many states have begun to legalize cannabis for medical and/or recreational use, despite its federal illegality. As of 2023, 38 states have legalized medical cannabis, while 16 have legalized recreational use.

Despite this progress at the state level, the federal government has remained resistant to legalization. However, in 2023, federal cannabis legalization efforts began to gain traction in a way they hadn't before.

Legislation

In 2023, several pieces of legislation were introduced in Congress with the goal of legalizing cannabis at the federal level. One of the most significant was the Marijuana Opportunity Reinvestment and Expungement (MORE) Act, which was first introduced in 2019 but had been stalled in Congress. The MORE Act would remove cannabis from the list of controlled substances, expunge past cannabis-related convictions, and reinvest tax revenue from cannabis sales into communities impacted by the war on drugs. The MORE Act passed the House of Representatives in late 2022 and was awaiting a vote in the Senate.

Another piece of legislation introduced in 2023 was the Cannabis Administration and Opportunity Act, which was a bipartisan effort to legalize cannabis. This bill would remove cannabis from the list of controlled substances and allow states to regulate cannabis use as they see fit. The bill also includes provisions for expunging cannabis-related convictions and reinvesting tax revenue into communities impacted by the war on drugs.

In addition to these bills, there were also several smaller pieces of legislation introduced that would make more incremental changes to federal cannabis policy, such as allowing banks to work with cannabis businesses.

Public Opinion

One of the driving forces behind the push for federal cannabis legalization is public opinion. Polls consistently show that a majority of Americans support cannabis legalization, particularly for medical use. In 2023, a Gallup poll found that 70% of Americans support legalizing cannabis, while a Pew Research Center poll found that 91% of Americans support legalizing medical cannabis.

This widespread support for cannabis legalization has put pressure on politicians to support the cause. In addition, several states that had previously been resistant to cannabis legalization, such as Texas and Florida, began to seriously consider legalizing cannabis in 2023, which could potentially tip the scales at the federal level.

Economic Implications

The economic implications of federal cannabis legalization are significant. Legal cannabis sales are projected to reach $41.5 billion in 2025, up from $17.5 billion in 2021, according to the research firm BDSA. Legalizing cannabis at the federal level would allow for easier access to capital for cannabis businesses, which would help the industry grow even more rapidly.

In addition, federal cannabis legalization could create new job opportunities in the industry, particularly in states where cannabis has already been legalized. According to a report by Leafly, the legal cannabis industry employed over 321,000 people in 2021, and that number is expected to grow to over 500,

,000 by 2025 if cannabis is legalized at the federal level. This growth could provide a significant boost to the economy, particularly in areas where jobs have been lost due to the pandemic or other economic factors.

Furthermore, federal cannabis legalization would allow for the collection of taxes on cannabis sales, which could provide a new source of revenue for the government. According to a report by New Frontier Data, federal cannabis legalization could generate $128.8 billion in tax revenue by 2025. This revenue could be used to fund a variety of government programs, including education, infrastructure, and healthcare.

Public Health Concerns

While many advocates argue that cannabis is a relatively safe substance and should be legalized, others have raised concerns about the potential public health risks associated with increased cannabis use. Some worry that legalization could lead to an increase in cannabis use, particularly among young people, and could contribute to other health issues such as impaired driving.

However, advocates of legalization argue that regulation and education can help mitigate these risks. They point to the success of regulation in states that have already legalized cannabis, such as Colorado and Washington, which have seen decreases in youth cannabis use since legalization. In addition, they argue that the tax revenue generated by legalization could be used to fund public health and education programs aimed at reducing cannabis use and preventing other negative health outcomes.

Conclusion

The push for federal cannabis legalization in 2023 represented a significant milestone in the ongoing debate over cannabis policy in the United States. While there are still concerns about the potential public health risks associated with increased cannabis use, many believe that legalization would provide significant economic benefits and help rectify the harm caused by the war on drugs.

As of 2023, it remained to be seen whether federal cannabis legalization would actually come to fruition, but the momentum behind the effort was significant. With public opinion continuing to shift in favor of legalization and more states considering their own legalization efforts, the potential for federal legalization seemed closer than ever before.