The new legislation introduced today in the Senate is not just a bill that legitimizes marijuana and attracts attention to marijuana culture. Senate Senator Ron Wyden (D-OR) announced this bill has a prominent number (S.420).
The new bill will give the Drug Enforcement Administration 60 days to remove drugs from the regulated drug list, and still prohibits the sale of marijuana in illegal states. S.420 will require the merchant to add consumption tax to marijuana, which is an indirect tax that is added to the price of the product similar to the tax on tobacco and alcohol.
This measure also requires businesses to apply for special permits to begin selling weeds. Cannabis products are also similar to labeling and advertising requirements for alcohol.
Wyden allows sellers of countries that have already legalized marijuana to accept tax deductions on a regular basis like any other company, and cannabis companies can bring banks and advertising more easily.
This is the first time the bill has taken 420. Earlier this month, Earl Blumenauer (D-OR), a lawmaker who legally treated weeds like alcohol, 420 is proposed. According to Forbes lawmakers in California, Rhode Island, and Capitol Hill all had 420 bills in the past.
Today's legislation faces a tough fight to become a law. However, Wyden said in a statement, "Americans have elected the most transatlantic parliament in the US presidential election, and a significant number of legislation is being introduced."