Last week, White House Press Secretary Sean Spicer indicated the government may “step up” efforts to enforce federal marijuana laws, in direct opposition to several states, such as Colorado and California, that have legalized cannabis for recreational use. And this week, Attorney General Jeff Sessions did anything but walk those comments back when he said “it remains a violation of federal law to distribute marijuana… whether a state legalizes it or not.”
Spicer and Sessions’ ominous statements galvanized cannabis industry players, insiders, and activists, even as they sent marijuana stocks into a “Trump slump” of their own.
I completely understand why regular investors playing this lucrative trend might be nervous.
So let me tell you why I’m not nervous at all. It has to do with a powerful, unlikely “Red-Blue” coalition that isn’t going to take any renewed assault on legal pot lying down.
But more than that, it has to do with unstoppable momentum…
Rare Washington Cooperation on a Bipartisan Issue
I like to call these folks the “Four Horsemen” of cannabis prohibition. Representatives Earl Blumenauer (D-OR), Jared Polis (D-CO), Dana Rohrabacher (R-CA), and Don Young (R-AK) have launched the Congressional Cannabis Caucus.
Playing on the strength of marijuana initiatives at the ballot box on Election Day, the bipartisan quartet in the House of Representatives decided not to wait out demographic changes, slowly fading opposition from older lawmakers, or any potential problem initiatives that could arise from the Trump administration.
The caucus – the first of its kind – aims to protect state-level gains made in recent years and bolster support for reform of antiquated federal laws. Their endgame: removing marijuana from the Drug Enforcement Administration’s (DEA) list of Schedule I drugs, which also includes cocaine and heroin.
The Cannabis Caucus Is Leaving Nothing to Chance
The Congressional Cannabis Caucus made a splash on the issue a week before the administration could, thus shaping the issue. Importantly, Republicans are helping spearhead the caucus. With a majority in the House and Senate, support from GOP lawmakers is essential to any pro-cannabis congressional effort.
Leave A Comment