Legislation To End The Federal Prohibition of Cannabis is Coming Soon.

Senate Majority Leader Chuck Schumer says “With or Without Biden the end of federal prohibition is in the works”.

 Senate Majority Leader Chuck Schumer and many colleagues have been in the works and will introduce legislation soon to decriminalize cannabis at the federal level, opening the door for states to establish their own legislation policies. Although full details have yet to be revealed this legislation is expected to remove cannabis from the federal Controlled Substances Act and will likely include social equity elements, as well as restrictions to prevent large tobacco firms from overtaking the industry. The anticipated bill, according to the report, will instead prioritize small business owners and entrepreneurs, particularly individuals who have been most heavily affected by the oppressive drug war.

Senate spoke about this bill back in January hinting that lawmakers planned to merge several pieces of cannabis legislation in their quest for federal reform. Here we are in April 2021 and Senate Schumer makes the announcement the same day his home state New York announced its legalization for adult use cannabis use. Senate Schumer stated in a report with ABC News “I support decriminalization at the federal level.” 

Along with the SAFE Bill Act introduced last month, Another bill was recently introduced to the House and Senate. This Bill seeks to guarantee the cannabis industry’s access to typical insurance packages like property insurance and worker’s comp. As the bill develops Lender 420 will bring you more updates. As a whole we are well on our way to legalization across the nation and Lender 420 couldn’t be more excited to watch it all develop. We will continue to follow all things cannabis and bring you the latest weekly.

At Lender420.com, we help business owners secure funding for their cannabis businesses. Whether a startup or an established business looking to expand, we help entrepreneurs take a proactive approach to funding their businesses. Our diverse set of programs provides entrepreneurs with options when financing their businesses. Our pre-approval process is easy and stress-free. We encourage interested entrepreneurs to apply pro-actively to get an idea of the amount of capital they’re eligible to lend.

Contact us at info@lender420.com or via our office line at 424-320-3800 to speak to one of our experts about what program is best for you and your business.