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Home > AZ Cannabis News > U.S. Senators Unveil Federal Marijuana Legalization Draft Bill

U.S. Senators Unveil Federal Marijuana Legalization Draft Bill

Federal Marijuana Law

The Global Alliance for Cannabis Commerce (GACC) proudly announced its support of Senate Majority Leader Chuck Schumer, Senator Ron Wyden, and Senator Cory Booker’s new draft bill, the Cannabis Administration and Opportunity (CAO) Act, which was unveiled on July 14.

The Act takes the important steps of descheduling cannabis entirely from the Controlled Substances Act, applying a federal regulatory framework for interstate and international trade, and works to make restitution for the damages of cannabis prohibition to communities harmed by prohibition.

The GACC looks forward to working with the bill sponsors to move this bill forward through the legislative process.

According to GACC President Rezwan Khan, “Leader Schumer is doing exactly that: leading the way for a better path forward for the millions of Americans—from consumers, to employees, and businesses—affected by cannabis prohibition. The time for members of the House and Senate to end prohibition is this Congress.”

GACC Founding Board Member Sam Rodriguez added, “the regulatory framework is built upon strong economic principles of fairness and equity, harnessing it’s collective mission to stimulate innovation and social progress.”

“Leader Schumer inherited a status quo where small American cannabis businesses are marginalized and large foreign companies are prioritized in the areas of banking, taxation, and intellectual property rights,” said GACC Board Member Moe Asnani. “As a first-generation immigrant, I am glad to see the Senate Majority Leader take the first steps to elevate homegrown American cannabis.”

The GACC exists to provide policymakers and legislators with the guidance necessary to take the nascent cannabis industry from the grey market into a global provider of medical and adult-use cannabis products. GACC advocates in front of government policymakers and legislators in order to legalize and regulate the cultivation, manufacture, distribution, or use of medical and adult-use cannabis products globally.

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