DISTRICT OF COLUMBIA: Marijuana is legal in Oregon. Marijuana is legal in Colorado. And now, Democratic Reps. Earl Blumenauer or Oregon and Jared Polis of Colorado want cannabis to be legal on the federal level.
On Friday, Polis and Blumenauer introduced two separate bills to make their vision a reality. Polis’ bill, the Regulate Marijuana Like Alcohol Act, removes marijuana from the list of banned substances. Blumenauer’s bill, on the other hand, focuses more on the financial side through the creation of a tax structure to bring in money from recreational cannabis sales.
“The federal prohibition of marijuana has been a failure, wasting tax dollars and ruining countless lives,” Blumenauer told The Hill.
Marijuana would first be taxed at 10 percent. This rate would then gradually increase to 25 percent. Medical marijuana would be spared from taxation by the bill. Calculations project that the legislation, along with the funds saved from not throwing people in prison for marijuana, would bring in around $10 billion in revenue for the federal government.