US Senator Says ‘Congress Has Failed’ to Keep Up on Cannabis Reform

Despite cannabis legalization attracting 70% support from Americans, some U.S. politicians have continued to bury their pro-cannabis views within the broader context of their legislative agendas—but not U.S. Sen. Jacky Rosen.

The Nevada Democrat released a nearly two-minute video Feb. 15 solely dedicated to her support for furthering cannabis reform at the federal level.  

“Did you know that more than three-quarters of states across the country have decriminalized or fully legalized the use of cannabis?” Rosen asked. “In Nevada, we’ve been successfully regulating marijuana since 2017, and our economy and small businesses have seen the benefits. Unfortunately, Congress has failed to keep up with the times. As your senator, I’m committed to passing commonsense legislation to support legal cannabis use nationwide and allow Nevada’s cannabis industry to thrive.”

Nevada has been successfully regulating marijuana for years & we've seen the economic benefits.

But Congress has failed to keep up with the times – hurting small businesses.

I’m committed to passing commonsense legislation that supports legal cannabis businesses nationwide. pic.twitter.com/JkK37pOTwx

— Senator Jacky Rosen (@SenJackyRosen) February 15, 2024

Rosen’s message, which calls for federal cannabis legalization, comes less than a month after President Joe Biden spent all of 15 seconds talking about his cannabis policy during a 24-miniute speech along the campaign trail Jan. 27 in South Carolina.

While Biden did release an official statement on cannabis reform in October 2022, when he directed his cabinet-level agencies to initiate an administrative process to review how cannabis is scheduled under federal law, it’s rare for politicians to call attention to cannabis policy in a calculated manner that doesn’t lump in other policy issues.

In her video, Rosen highlighted her sponsorship last Congress of the Fair Access for Cannabis Small Business Act to try and ensure that legally operating cannabis businesses have access to loans and programs provided by the Small Business Administration (SBA). Under federal prohibition, companies with direct or indirect products or services tied to the cannabis industry are excluded from accessing SBA benefits.

In addition, Rosen is an original co-sponsor for the Secure and Fair Enforcement Regulation (SAFER) Banking Act—as well as its preceding SAFE Banking Act—legislation that intends to provide safe harbor for financial institutions that offer banking, insurance and other related services to the cannabis industry.

“But we are not done yet. We ultimately need to legalize marijuana at the federal level,” Rosen said in her video last week. “While we get there, one thing we can do right now is to reschedule cannabis—something I’m pushing the FDA to do. These are all commonsense policies that match what Nevadans believe, and I will continue to champion these policies for Nevadans and all Americans.”

Editor’s note: The rescheduling authority lies within the Drug Enforcement Administration (DEA) in the executive branch of government. The U.S. Food and Drug Administration (FDA) along with the Department of Health and Human Services conducted an eight-factor analysis regarding how cannabis is scheduled and recommended to the DEA it be relisted from Schedule I to Schedule III under the Controlled Substances Act, which the DEA is currently reviewing.

In Nevada, which has just more than 100 licensed dispensaries, voters approved an adult-use cannabis initiative in the November 2016 election. Dispensary sales launched July 1, 2017, with a 10% excise tax at retail and a 15% excise tax at wholesale.

In the 6 1/2 years since launching a commercial retail market, Nevada’s licensed dispensaries have reported more than $5 billion in sales, according to the state’s Department of Taxation.

To date, the state’s excise taxes at retail and wholesale have combined to provide more than $780 million in state revenue.