South Carolina Congresswoman Nancy Mace Unveils GOP Bill to Legalize Cannabis at Federal Level
1.8 min readPublished On: November 16th, 2021By News Team
WASHINGTON, D.C.–U.S. Rep. Nancy Mace introduced sweeping legislation Monday to decriminalize cannabis federally, offering Republicans a conservative approach to the legalization debate in America that proposes taxing cannabis and regulating the substance more like alcohol.
(Rep Nancy Mace, (R) right foreground and main photo)
But back in Mace’s home state of South Carolina, Republicans issued a swift condemnation of her efforts. Her draft bill, called the States Reform Act, would remove Cannabis from the federal Controlled Substances list and impose a 3% federal excise tax.
“I kept it very low,” Mace said, pointing to high taxes on marijuana in California, which she said have stoked black market sales. “It’s got to be under 4 percent to reduce the opportunity for illicit markets.”
That tax revenue would help pay for law enforcement retraining programs, assist the Small Business Administration and support mental health initiatives for veterans.
The legislation also calls for expunging nonviolent, cannabis-only related arrests and convictions from federal records — a change that could lead to approximately 2,600 releases at the federal level, according to estimates provided by Mace’s office ahead of the bill’s introduction.
It would not apply to cartel members, agents of cartel gangs or those convicted of driving under the influence. “It’s not going to force cannabis on South Carolina, if South Carolina does not want it,” Mace said, adding that she would like to see her state legalize medical cannabis soon, according to reporting from MJBizDaily.
But in South Carolina, where lawmakers have only passed one cannabis-related bill, allowing prescriptions for products with non-psychoactive CBD — Mace swiftly drew criticism from some conservatives over her proposal.
Calling cannabis “the number one gateway drug to the exploding opioid crisis that is ravaging our state,” Dave Wilson, president of Palmetto Family, a conservative Christian lobbying organization, warned in a statement that efforts to decriminalize cannabis “will make this crisis exponentially worse.”
However, the data shows the opposite has proven to be true. In those states where cannabis is legal both drug and alcohol abuse is in decline.
Newsteam at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.
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