WATCH LIVE: Senator Schumer Unveils Cannabis Legalization Bill

Senate Majority Leader Chuck Schumer (D-N.Y.) and fellow Sens. Cory Booker (D-N.J.) and Ron Wyden (D-Ore.) introduced the outline of the proposed Cannabis Administration & Opportunity Act on Wednesday. The proposal includes plans to remove marijuana from the Controlled Substances Act. If passed, the bill would also expunge prior convictions and allow people who are serving time for applicable crimes to petition for resentencing. In addition, states would keep their rights to set their own marijuana policies and help those who've been criminalized over the cannabis plant. Finally, the proposal would regulate and tax marijuana, like alcohol and tobacco. To read more about the plan: https://www.benzinga.com/markets/cannabis/21/07/21977899/full-details-of-schumers-federal-cannabis-legalization-bill-unveiled-days-of-federal-prohibition RELATED: Biden Picks Former West Virginia Chair Of Cannabis Advisory Board As Top Drug Policy Official➡️ https://www.benzinga.com/markets/cannabis/21/07/21967779/biden-picks-former-west-virginia-chair-of-cannabis-advisory-board-as-top-drug-policy-official-dr Get Notified of future BZ Cannabis Events➡️ https://www.benzinga.com/events/cannabis/cannabis-hour/ Subscribe to the Cannabis Insider Newsletter➡️https://share.hsforms.com/1SD_FsDd8TnS-RYQYnORPFw1npzh