New Jersey Senator Cory Booker has announced a Bill to Make Marijuana Legal Nationwide. The bill would remove marijuana from the list of controlled substances, legalizing it at the national level, while encouraging states to legalize it locally through incentives. It also would automatically expunge federal use and possession convictions. Financial analyst and market expert with an emphasis on marijuana stocks, Ray Blanco says Senator Booker's legislation is taking a good idea (legalization) and turning it into a way to strengthen the Federal power and social engineering. This is proof that politicians can ruin anything. "It's a step in bringing this conversation into a national forefront. States want to end cannabis prohibition and they want the federal government to allow it." The bill goes even further by incentivizing states to similarly adopt pro-marijuana policies and laws, therefore paving the way towards mass acceptance of the drug as a legal good. According to Blanco, the right policy is to get rid of criminalization at the Federal level. Let states decide what they want to do with it, no strings attached. While the bill has essentially no chance of passing in Congress, it's still an important step in the right direction for those interested in investing in marijuana stocks. A clean legalization bill has a decent chance these days, however, Booker's draft snatches defeat from jaws of (potential) victory by gumming it up with a bunch of other stuff that stands no chance in this Congress. Ray Blanco will join me to discuss it.
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