marijuana Archive
Federal Cannabis Tax | Cannabis Administration & Opportunity Act
September 2, 2021
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TweetShareSharePin0 Shares The Tax Foundation is pleased to submit comments on the cannabis excise tax provisions of the Cannabis Administration and Opportunity Act (CAOA). Tax Foundation is a nonpartisan, nonprofit research organization that has monitored fiscal policy at all levels of government since 1937. As a Section 501(c)(3) nonprofit, nonpartisan organization, we take no position
Schumer’s Proposal to Deschedule and Tax Marijuana
July 14, 2021
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TweetShareSharePin0 Shares Today, Senate Majority Leader Chuck Schumer (D), Senate Finance Committee Chairman Ron Wyden (D), and Sen. Cory Booker (D) released their discussion draft—the Cannabis Administration and Opportunity Act—for federal descheduling of marijuana. While federal descheduling impacts all states, it does not deschedule marijuana in states which choose to keep their own ban. Nevertheless,
MORE Act | Federal Taxation of Recreational Marijuana
May 28, 2021
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TweetShareSharePin0 Shares Today, Rep. Jerry Nadler (D-NY) reintroduced the Marijuana Opportunity Reinvestment and Expungement Act (MORE Act) to reform federal treatment of marijuana by descheduling it, meaning it no longer would be a prohibited substance. Not surprisingly, the bill includes an excise tax on all sales of marijuana products, which would take effect six months
