House Votes to Decriminalize Cannabis | Cannabis Business Executive – Cannabis and Marijuana industry news

Democrats, with some Republican support, voted 220-204 to remove marijuana from the federal list of controlled substances, moving to catch up to the states.

WASHINGTON — The House passed legislation on Friday to decriminalize marijuana at the federal level, as Democrats and three Republicans banded together to capitalize on the political resonance of legalized cannabis as an issue of economic growth, racial justice and states’ rights.

The Marijuana Opportunity Reinvestment and Expungement Act, which passed 220-204, is unlikely to secure 60 votes to pass the Senate, despite the backing of the majority leader, Senator Chuck Schumer of New York. But supporters of marijuana decriminalization — even some Republicans who voted against the Democratic legislation — said on Friday that the vote was a necessary step toward building consensus on something that can become law.

The Democrats’ bill would remove marijuana from the federal government’s list of controlled substances, impose an 8 percent tax on cannabis products, allow some convictions on cannabis charges to be expunged and press for sentencing reviews at the federal and state levels. It would also make Small Business Administration loans and services available to cannabis businesses while setting standards for them. [Read More @ The NY Times]