Wyden Introduces S. 420 to Legalize Cannabis

Legislative package also empowers states to implement own marijuana laws

Washington, D.C. – Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today announced introduction of S. 420, the Marijuana Revenue and Regulation Act, legislation that would responsibly legalize, tax and regulate marijuana at the federal level. The legislation is included in a broader package introduced in the Senate by Wyden and introduced in the House of Representatives by senior member of the House Ways and Means Committee Representative Earl Blumenauer, D-Ore., to preserve the integrity of state marijuana laws and provide a path for responsible federal legalization and regulation of the marijuana industry. The Path to Marijuana Reform also includes the Small Business Tax Equity Act, which prevents legal marijuana businesses from getting hit with an unfair tax bill, and a measure to shrink the gap between federal and state marijuana policies.

Source: www.finance.senate.gov