Second Time a Charm as House Approves Bill to Federally Legalize Cannabis – Hemp, Inc. Reports
Hemp, Inc. (HEMP) announced the U.S. House of Representatives passed the MORE Act on April 1, 2022, aimed at federally legalizing marijuana. This legislation seeks to remove cannabis from the Controlled Substances Act, expunge past federal cannabis convictions, and eliminate criminal penalties for federal cannabis offenses. The bill, having passed the House with a 220-204 vote, now moves to the Senate for further deliberation. The approval marks a significant step toward cannabis reform, which could impact the cannabis stock market positively due to increased trading volumes.
- House approved the MORE Act to federally legalize marijuana, enhancing the cannabis market's outlook.
- Previous legislation aimed at legalization received substantial support, indicating growing acceptance.
- Senate approval is uncertain; the MORE Act requires 60 votes to pass.
- The bill was previously stalled in the Senate after passing the House in December 2020.
Las Vegas, NV, April 04, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Hemp, Inc. (OTC PINK: HEMP) reports today that the U.S. House of Representatives approved the bill, on Friday, April 1, 2022, to federally legalize marijuana. Under the MORE Act, cannabis would be removed from the list of drugs regulated by the Controlled Substances Act, criminal penalties for federal cannabis offenses would be eliminated, and past federal cannabis convictions would be expunged. H.R. 3617 (the MORE Act) will now advance to the Senate floor to be voted on, debated or amended.
According to Marijuana Moment, “the vote fell largely along party lines with only three Republicans supporting the measure and two Democrats opposing it. Following an hour of debate on the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act from House Judiciary Chairman Jerrold Nadler (D-NY)—and the approval of two amendments and the rejection of a third—the full chamber voted 220-204 to end federal cannabis prohibition and promote social equity in the industry.”
Hopefuls are optimistic that the second time around will be a charm with a Senate approval. The MORE Act was approved by the House of Representatives in December 2020, but the bill was not given a hearing or a vote in the Senate. According to Marijuana Movement, when the MORE Act went to the floor 2 years ago, it passed in a 228-164 vote, with five Republicans joining their Democratic colleagues in advancing the reform. Now that it has passed the House, the MORE Act will need 60 votes to pass the Senate.
As Hemp, Inc. reported last week, de-scheduling news of this magnitude has shown to peak cannabis stock market prices and trading volume. Cannabis has been a Schedule 1 Controlled Substance for the past 52 years. According to Forbes, “cannabis is legal for adult use in 19 states and for medical use in 36 states. This bill would end the federal ban, but leave legalization up to the states.” Fortune Business Insightsreports, “The global cannabis market is projected to grow from
Hemp, Inc. released two of its most highly potent powerhouse products to date. On March 22, 2022, Hemp, Inc. unveiled a tincture with 4 times the potency of most other hemp-derived tinctures currently in the market and at a fraction of the price. Two days later, the Company released a CBD/CBG high potency blend in capsule form and offered free sample packs (plus shipping and handling) to the first 100 customers who ordered it from the King of Hemp website.
Hemp, Inc.’s King of Hemp® premium power-packed capsules promote enhanced mood and clarity with rejuvenating properties. Some users have reported feeling rejuvenated, stress-free and tension-free. All of the King of Hemp® products, including the capsules, are independently tested by a third-party lab and manufactured in the USA at Hemp, Inc.’s manufacturing facility in Nevada. Our products are
For more information on the free sample pack offer, with
Hemp, Inc.’s sales & marketing team is currently working on large-scale orders for the company’s upcoming CBDA and CBGA products. Small retail stores or those interested in distributing on a large-scale basis should email sales@hempinc.com or call 877-436-7564 for more information. The entire product line may include infused water, tinctures, gummies, capsules, edibles and more. They’ll come in a variety of sizes, potencies, flavors and formulas that executives foresee being in high demand.
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FAQ
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