Federal Marijuana Initiative To Be Announced by U.S. Representatives

On Tuesday, February 5, 2013 (EST), Rep. Earl Bluemenauer (D-OR) and Jared Polis (D-CO) of Congress will propose a bill to a national teleconference pertaining to the legalization and regulation of marijuana in a manner similar to that of alcohol and tobacco.

In addition to federal legalization and regulation, the Oregon and Colorado representatives mean to reduce federal interference with state marijuana laws by allowing individual states to decide if and when to institute marijuana-based laws. As well, the representatives seek to remove the federal ban on industrial hemp production and to remove any financial barriers that will potentially limit future legal marijuana businesses. Finally, a council of sorts, or what they call “a sensible drug policy working group” is proposed to help establish ideas and manage efforts in lawmaking.

The taxation of marijuana on a federal level has the potential to raise 20 Billon USD annually if a 50 USD tax is levied on every ounce sold.

The bill is expected to meet high pressures once formally presented, but its mere existence is a step forward in efforts to legalize marijuana, especially since the legalization in Colorado and Washington states.