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The Bipartisan Bill Is Seeing Increased Support From Both Democrats and Republicans

Mar 19, 2015 • 2:16 PM EDT
support-487506_1280.jpg
2 MIN READ  •  By Michael Berger
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California State Senator Barbara Boxer announced her support for the bipartisan bill that would effectively end the federal ban on medical marijuana and implement a series of reforms.

Senator Rand Paul (Ky.), Cory Booker (N.J.), and Kirsten Gillibrand (N.Y.) introduced the bill last week. Among its many provisions, the bill would reclassify marijuana, moving it from a Schedule I substance to Schedule II.

Zachary Coile, Boxer’s communications director said, “Senator Boxer is a strong supporter of California’s medical marijuana law and she believes that patients, doctors and caregivers in states like California should be able to follow state law without fear of federal prosecution.”

 Increased support from both parties

Senator Boxer cosponsored the bipartisan bill, but her office did not issue a statement announcing her support. Republican Senator Dean Heller (Nv) also sponsored the bill last week. Senator Heller released a statement backing the bipartisan bill.

The release said, “the time has come for the federal government to stop impeding the doctor-patient relationship in states that have decided their own medical marijuana policies.

Five key provisions of the bill

  1. Under the bill, marijuana would be reclassified as a Schedule II substance under the Drug Enforcement Agency’s five-category drug classification system. Marijuana is currently labeled as a schedule I substance along with heroin, LSD, and ecstasy. These substances are deemed by the DEA to have “no currently accepted medical use and a high potential for abuse.” Other substances classified under the Schedule II label include cocaine, OxyContin, Adderall and Ritalin.
  2. The proposed legislation would ease restrictions on the interstate transport of CBD medicines so patients will be able to access such medication.
  3. The bill would make it easier for banks to provide services to the marijuana industry.
  4. It would broaden access to cannabis for research purposes by revising the policies of the National Institute on Drug Abuse to permit research into the medical benefits of marijuana.
  5. Doctors who work for the Department of Veterans Affairs would be allowed to recommend medical marijuana to patients suffering from certain conditions in states where medical marijuana is legal.

Outlook

President Barack Obama recently stated that the divide between Republicans and Democrats on marijuana politics is narrowing. He went on to say that he is encouraged by recent developments because liberal Democrats are no longer the only supporters of legal marijuana. Conservative Republicans have come on board too. He is optimistic that we will soon see marijuana reclassified to a less restrictive Schedule.

Technical420 is happy to see the increased support for the bipartisan bill. It is important to note that the bill is receiving support from Republican Senators. This further proves that the divide between Republicans and Democrats is narrowing when it comes to marijuana. 

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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Technical420.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.

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