As the race to federally legalize marijuana continues to heat up, we expect lobbying from big businesses to spill over into the national news as PR departments are doing their best to position their respective companies in a way that will lead to bigger profits after the legalization.
Big business improving profits from the legalization of cannabis does not have to come from growing, selling, transporting, or marketing it. Federal legalization will open up the hiring pool by a large margin, bringing the potential for more talent to job searches, which can ultimately improve a business’s bottom line. Nancy Mace, the congresswoman who introduced the States Reform Act is on record saying “they don’t want to sell it” adding that Amazon is interested in backing the bill for hiring purposes because “it opens up the hiring pool by about 10 percent.”
Although the recent moves by Amazon and the optimism of industry stakeholders are a good sign, the legalization of cannabis ultimately depends on patching the partisan gap, and Mace’s State Reform Act may be a decent attempt at doing so. The bill incorporates equity-driven provisions that the Democrats want to see, including expungement of criminal records for “offenders” with non-violent charges stemming from cannabis.
With the MORE act clearing the House Judiciary Committee in September with a 26-15 vote, it is an expectation that Senate leadership is gearing up to introduce another cannabis legalization act that is a follow-up to the draft version released in 2021.
It is hard to predict which piece of legislation will ultimately pass, but momentum is headed in the right direction. When cannabis is finally federally legalized, it will be a win for everyone. Our team here at Commerce Puzzle will continue to keep you updated.