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Pot Gets Senate's Attention in Long-Shot Decriminalization Bill

  • Democrats planning introduction of legislation next week
  • Cannabis stock surge on news that Senate may take up bill
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Senate Democrats plan to introduce a bill to decriminalize marijuana at the federal level next week, a person familiar with the matter said, although the legislation faces long odds in the evenly divided chamber.

Majority Leader Chuck Schumer worked with Senators Cory Booker of New Jersey and Ron Wyden of Oregon on the measure. The senators circulated a draft of the bill last year and made tweaks after feedback from Senate committees.