Two Representatives Introduce A Bipartisan Bill To The House Of Representatives

The bipartisan bill introduced in the Senate earlier this month has gained support from important policy makers.

Yesterday, a similar bipartisan bill was introduced in the House of Representatives. The Compassionate Access, Research Expansion and Respect States (CARERS) Act was introduced by Democrat Steve Cohen (Tennessee) and Republican Don Young (Alaska). The purpose of the legislation is to reduce the federal government’s ability to crack down on state-legal medical marijuana programs and it aims to encourage more research into cannabis.

“The science has been in for a long time, and keeping marijuana on Schedule I — with heroin and LSD — is ludicrous,” Cohen said. “I am pleased to join with Congressman Don Young in introducing this important bill to bring the federal government in line with the science and the American people, respect states’ rights, remove the threat of federal prosecution in states with medical marijuana, and help our citizens access the treatments they need.”

The House bill contains six major policy changes

The House bill contains six key provisions. Those provisions are:

1. Allow patients, doctors and businesses to participate in their state’s medical marijuana programs without fear of being prosecuted by the federal government.

2. Reclassify marijuana as a less dangerous substance, moving it from Schedule I to Schedule II.

3. Give veterans easier access to medical marijuana.

4. Eliminate barriers to marijuana research.

5. Remove low-THC strains of marijuana from the controlled substances list.

6. Open up banking for marijuana businesses.

How does the Senate bill differ from the House bill?

The legislation that was introduced into the Senate had 5 key provisions; the House bill has 6. The additional provision is the removal of marijuana strains that are low-THC strains from the list of controlled substances.

Currently, 23 states and the District of Columbia have broad medical marijuana laws. Another 12 states have legalized cannabis strains that contain low-THC and high CBD. These states allow patients that suffer from certain debilitating conditions access to these strains.

The CARERS Act would remove marijuana with less than 0.3 percent THC from the CSA’s schedules altogether, allowing states to import low-THC/high-CBD strains for patients who need it.

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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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