House Panel Approves Cannabis Tax, Decriminalization Bill

By Dylan Moroses (November 20, 2019, 1:43 PM EST) -- The House Judiciary Committee cleared legislation Wednesday that would decriminalize cannabis and allow a 5% federal excise tax to be imposed on cannabis products.

A cannabis legalization bill approved Wednesday by a U.S. committee would authorize the Bureau of Labor Statistics to compile data on business owners and employees in the marijuana industry. (AP) The Marijuana Opportunity Reinvestment and Expungement Act, H.R. 3884, or the MORE Act, passed the committee by a 24-10 vote. Republican Reps. Matt Gaetz of Florida and Tom McClintock of California were the only minority committee members who supported the measure.

The MORE Act was introduced in...

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