FYIAnalysts pour cold water on latest U.S. legalization efforts The next hope for U.S. legalization came to light late last week when Marijuana Moment reported that Nancy Mace, a rookie Republican congresswoman from South Carolina, drafted legislation aimed at descheduling cannabis. The draft is set to be released formally next week. It is expected that the bill will also create a 3.75 per cent excise tax on all cannabis sales, assign the Alcohol and Tobacco Tax and Trade Bureau to regulate cannabis in the U.S., and allow states to manage whether they would allow cannabis sales or not. While pot stocks collectively rose following the news, analysts offered more sober thoughts, with Stifel Analyst Andrew Carter stating the draft bill has "limited near-term prospects" and Cowen & Co. Analyst Jaret Seiberg noting the Senate doesn't have enough votes to pass similar bills.