Article Published by: thehill.com
Earlier this month, Sen. Cory Booker (D-N.J.) introduced the Marijuana Justice Act. To some, this bill may look like another liberal attempt to push for widespread legalization of marijuana across the country. But for those of us who work in this industry and understand the complexities and inequities of current marijuana policies, the bill is a bold step forward in transforming the industry as we know it.
I recommend that anyone who questions why marijuana should no longer be illegal under federal law, take the time to watch Sen. Booker’s three-minute video explaining his legislation. It will shine a light on how marijuana policies have negatively impacted targeted communities, specifically low-income communities of color. The Marijuana Justice Act seeks to undo some of the damage that Booker aptly describes as, “the unjust application of the law and economic bias.” For example, the bill would expunge convictions for those with marijuana use and/or possession charges at the federal level which, in turn, will allow for greater access to education and economic opportunities.
As CEO of a company which works in the legal marijuana industry, it is a priority for me that this industry gives everyone a fair and equal playing field. On a daily basis, I meet and speak with entrepreneurs and investors who are interested in becoming a part of the marijuana industry because of its huge growth potential and opportunity.
However, with opportunity come risks, and in this industry we take financial, legal and professional risks. That said, there is a large segment of the population that is not at the table for these types of discussions because they were previously targeted during the war on drugs and now cannot fully participate in the state legal boom of this business.
For them, the risks are still too high under marijuana’s current federal classification as a Schedule I drug. The Marijuana Justice Act seeks to change this by taking steps to fix the system so that marijuana is not just legal, but that the industry as a whole can move forward in a direction that we can be proud of.
Additionally, this legislation is important because it would also address a number of challenges marijuana businesses face such as lack of access to ordinary banking services. It would also move towards regulating the marijuana market as a whole and by regulating legal access, it would discourage and replace illicit drug activity.
I applaud Booker for introducing thoughtful legislation that would legalize the industry in the “right” way and that truly has the ability to move the ball forward on some of the historically negative aspects of this industry. Now is the time for the federal government to acknowledge that marijuana should be legal and removed from the list of controlled substances.
A recent CBS News poll showed that 71 percent of Americans oppose the federal government’s efforts to stop marijuana sales and use in states that have legalized it, and 61 percent of Americans want marijuana legal across the country. Additionally, in the first six months of this new Congress, over a dozen bi-partisan bills have been introduced aimed at moving marijuana policies and regulations forward. Like Booker’s legislation, these bills acknowledge that updated marijuana laws and policies will bring a plethora of economic and social benefits to our country through increased job opportunities and tax revenues.
Congress must acknowledge the position of the majority of the American public and respond accordingly. I call on lawmakers to support the Marijuana Justice Act and will be doing my part to raise this bill as a priority in the technology, transportation, policy and marijuana business communities eaze is a part of.
Jim Patterson is the CEO of eaze, a cannabis technology that connects people to doctors and dispensaries for on-demand consultations and deliveries.
About Michael King
Michael King is an experienced professional with a background in finance, private equity, real estate and consulting. He is currently a principal in one of the leading Cannabis consulting firms in the country — Duard Ventures.Read More