House Panel Approves First Bill to Decriminalize Marijuana at Federal Level

  • Measure would remove pot from federally controlled substances
  • Bill passed House Judiciary Committee on a 24-10 vote
Cannabis Will Eventually Be Legalized Federally, Cowen CEO Says
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The House Judiciary Committee approved legislation on Wednesday that would decriminalize marijuana at the federal level and reassess pot convictions.

The Marijuana Opportunity Reinvestment and Expungement Act, H.R. 3884, would expunge convictions and authorize a 5% sales tax on marijuana to help minority communities enter the cannabis business. The legislation was approved by the committee 24-10 Wednesday, clearing the way for a vote in the full House.