and for social justice
On the eve of the historic MORE Act vote tomorrow in the U.S., take a moment to read why this vote is so critically important from our own David Culver's column on As Americans stare into the threat of a deep recession, it’s no surprise lawmakers are looking to Depression-era policies to steer the economy out of its nosedive. Historians note that repealing the prohibition of alcohol, in the 1930s, was an economic catalyst that created hundreds of thousands of jobs and generated the equivalent of billions in tax revenues. What’s lesser known is that the move was also an act of social justice. It halted a disastrous law enforcement experiment, which, among other things, unleashed the Ku Klux Klan to perpetuate state-sanctioned violence against people of color who had the temerity to partake in a simple drink.
There are legitimate reasons to repeat the history of repeal, now with cannabis—especially after policymakers have deemed dispensaries essential in state after state. It is estimated that the sale of recreational cannabis, if legalized in all 50 states today, would generate more than $175.8 billion through 2025 in federal sales, business, and payroll taxes, and would add nearly 1.6 million jobs by 2026.
Obviously, the new revenues would help offset critical relief spending, the price tag for which already stretches into the trillions. But bringing existing bootleg sales into the light also would wrap cannabis workers in the fold of employment law, including increasing their likelihood of getting health care coverage. And consumers would be protected by quality controls in a tightly regulated market. Truly, cannabis should never have been classified as a Schedule I banned substance in the first place. It has neither the addictive properties nor the lack of medicinal value that such categorization demands. Ulterior, racist motives contributed to the outlawing of cannabis as far back as 1937.
The time has come for change.
Our vision at Canopy Growth is to offer a remarkably safe product to adults to consume in a responsible manner while investing in the communities where we operate. As we expand in the U.S., we are committed to helping regulators ensure safe and effective standards as we have done in countless other countries.
For now, as Americans grapple with how best to dismantle systemic racism in the midst of an economic crisis, cool heads in Congress are looking in the right direction—to the past. Putting forward this critical, commonsense legislation would in one swoop create an anchor of social justice reform, while also delivering a much-needed new source of revenue.
David Culver is the U.S. vice president of government relations at Canopy Growth Corporation, a leading cannabis-producing company based in Canada.
Marijuana: Congress should legalize cannabis now—for the economy and for social justice | Fortune
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