Cannabis News: GOP Federal Legalization Act VS The MORE Act
With the introduction of the States Reform Act by Congresswoman Nancy Mace this week, Republicans have officially entered the cannabis reform arena.
The Representative from South Carolina, with her GOP-sponsored cannabis bill, would tax cannabis in a much different way than the currently proposed Democratic MORE Act.
The bill would separate cannabis goods into six separate categories: flower, pre-rolls, extracts, vape cartridges, edibles, and topicals and cosmetics products.
The States Reform Act would tax cannabis goods at 3%, whereas the Democrat-led MORE Act would tax cannabis at 8%. This tax would be similarly executed to the way that tobacco and alcohol are taxed in the US. A portion of the revenue would be diverted to the Law Enforcement and Second Chances Fund, which would provide funds for community reinvestment, drug treatment, education, law enforcement, support for veterans, opioid addiction treatment, youth use prevention, and the Small Business Administration.