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senate Bill S. 776

Should the Federal Gov’t Legalize & Tax Marijuana?

Argument in favor

The federal government should legalize and tax marijuana as it’s a substance no more harmful than alcohol or tobacco that would stimulate legal economic activity and reduce the strain on law enforcement resources. States should be able to regulate marijuana how they see fit without federal overreach.

Mac's Opinion
···
05/04/2018
Legalize yes, but it shouldn’t be a 25% tax right off the bat. The government is just now catching up to the will of the people and doesn’t deserve to profit from it until it has proven that it can turn over a new leaf (in terms of federal agencies raiding legal businesses and mass incarceration of cannabis users).
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Robert 's Opinion
···
05/12/2018
These are two different questions. Legalize it, yes. Federal tax of 25%, no. States should benefit from the tax, not the federal government which has demonized pot for decades. This will be hard to regulate (think prohibition) unless there is allowance and some leeway to grow your own as a private citizen. In the forties weed grew wild in Indiana along the railroad tracks. I plan to plant it my garden. It will grow like a”weed” and to “high” heaven! Let the good times “roll”).
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Stephanie's Opinion
···
05/12/2018
I live in Colorado. Our opiod abuse rate has dropped significantly since legalization, as has our overall violent crime rate. The tax money has made a significant positive impact on our schools and in other areasm
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Argument opposed

Marijuana is a harmful substance that serves as a gateway to harder drugs — the federal government shouldn’t legalize it. Letting states make their own decisions about legal marijuana would be a mistake that’d be seen as a public health mistake as the impact of marijuana use becomes clearer.

Leona's Opinion
···
05/04/2018
This is a bill that SEEMS pro-cannabis, until you do the math. This bill will leverage a 25% excise tax on legal cannabis products from the federal government, which is in ADDITION to the states excise tax, state sales tax, and other local taxes. In Washington, this would be the worst: federal tax 25% + state tax 37%+about 8% local tax, making well over half the cost of the product go towards taxes, and many other states will also have massive taxs. If you think that's OK, because taxes go to help our communities, I'd like to point out that large taxes on cannabis is what created a black market for it in the first place (Marijuana Tax Act of 1937). When tax rates are so large, competition will step in, in the form of black market options. This bill will prolong the agonies of prohibition, while making investors wealthy, creating the illusion things are better in society, while also strengthening the black market and punishing those who cannot afford the legal option. This is an example of history repeating itself, let's not take steps backward. I support a reasonable tax on cannabis - federal and state taxes MUST be reconciled in a way so that the black market for cannabis is no longer a viable option for those who cannot afford the tax.
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FoxVoter9's Opinion
···
05/12/2018
I support legalizing pot but not under Federal tax. I prefer it to be under states' law so that each states can earn money and help their own people. Other reason why I don't want it to be under Federal is not when Trump is president. I rather wait until he leaves the White House.
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RadicalModerate's Opinion
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05/12/2018
I will never pay federal tax, that will be used to buy guns and bombs for a plant that grows in dirt and cures illness.
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bill Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Committee on Finance
    IntroducedMarch 30th, 2017

What is Senate Bill S. 776?

This bill — the Marijuana Revenue and Regulation Act — would legalize marijuana by taking it off the list of controlled substance, in addition to imposing a 25% excise tax on recreational marijuana sales and letting states develop regulate marijuana as they do alcohol. The Controlled Substances Act would be amended to impose penalties for shipping or transporting marijuana into any state or jurisdiction where it is illegal. It’d also be illegal to sell more than one ounce of marijuana in a single retail transaction.

Industrial hemp and FDA-approved therapeutic items containing marijuana would be exempt from the excise tax, as would products used for research or nonconsumption. The transfer of marijuana products between production, import, and export facilities would be exempt from the tax and a credit or refund must be issued for products that are withdrawn from the market, lost, or destroyed.

Producers, importers, and exporters of marijuana products would be required to:

  • Obtain a permit and a bond covering tax liability from the Treasury Dept. prior to beginning operations;

  • Meet recordkeeping requirements;

  • Comply with certain policies and restrictions regarding packaging, labeling, and advertising.

Impact

Marijuana users and businesses; states; and relevant federal agencies.

Cost of Senate Bill S. 776

A CBO cost estimate is unavailable.

More Information

In-Depth: Sponsoring Sen. Ron Wyden (D-OR) introduced this bill to legalize, tax, and regulate marijuana in conjunction with two other proposals to lessen the gap between federal and state marijuana policies and let marijuana businesses access tax credits and deductions:

“The federal government must respect the decision Oregonians made at the polls and allow law-abiding marijuana. This three-step approach will spur job growth and boost our economy all while ensuring the industry is being held to a fair standard.”


Media:

Summary by Eric Revell

(Photo Credit: UrosPoteko / iStock)

AKA

Marijuana Revenue and Regulation Act

Official Title

A bill to amend the Internal Revenue Code of 1986 to provide for the taxation and regulation of marijuana products, and for other purposes.

    Legalize yes, but it shouldn’t be a 25% tax right off the bat. The government is just now catching up to the will of the people and doesn’t deserve to profit from it until it has proven that it can turn over a new leaf (in terms of federal agencies raiding legal businesses and mass incarceration of cannabis users).
    Like (346)
    Follow
    Share
    This is a bill that SEEMS pro-cannabis, until you do the math. This bill will leverage a 25% excise tax on legal cannabis products from the federal government, which is in ADDITION to the states excise tax, state sales tax, and other local taxes. In Washington, this would be the worst: federal tax 25% + state tax 37%+about 8% local tax, making well over half the cost of the product go towards taxes, and many other states will also have massive taxs. If you think that's OK, because taxes go to help our communities, I'd like to point out that large taxes on cannabis is what created a black market for it in the first place (Marijuana Tax Act of 1937). When tax rates are so large, competition will step in, in the form of black market options. This bill will prolong the agonies of prohibition, while making investors wealthy, creating the illusion things are better in society, while also strengthening the black market and punishing those who cannot afford the legal option. This is an example of history repeating itself, let's not take steps backward. I support a reasonable tax on cannabis - federal and state taxes MUST be reconciled in a way so that the black market for cannabis is no longer a viable option for those who cannot afford the tax.
    Like (245)
    Follow
    Share
    These are two different questions. Legalize it, yes. Federal tax of 25%, no. States should benefit from the tax, not the federal government which has demonized pot for decades. This will be hard to regulate (think prohibition) unless there is allowance and some leeway to grow your own as a private citizen. In the forties weed grew wild in Indiana along the railroad tracks. I plan to plant it my garden. It will grow like a”weed” and to “high” heaven! Let the good times “roll”).
    Like (188)
    Follow
    Share
    I live in Colorado. Our opiod abuse rate has dropped significantly since legalization, as has our overall violent crime rate. The tax money has made a significant positive impact on our schools and in other areasm
    Like (123)
    Follow
    Share
    I support legalizing pot but not under Federal tax. I prefer it to be under states' law so that each states can earn money and help their own people. Other reason why I don't want it to be under Federal is not when Trump is president. I rather wait until he leaves the White House.
    Like (78)
    Follow
    Share
    I will never pay federal tax, that will be used to buy guns and bombs for a plant that grows in dirt and cures illness.
    Like (65)
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    Share
    I smoke pot all day long. It helps me focus, keeps the nausea down from all of my prescribed drugs, it helps me calm down, it helps me sleep, and OH BOY, it feels real good!🍃😁😎
    Like (47)
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    Legalize it yes, but Feds should not tax it. States should receive any tax income as they are the ones who will have to deal with the impact of producing it, such as environmental issues and enforcement and mitigate any problems resulting from it's use.
    Like (44)
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    Federal legalization YES, any federal tax NO. Taxes should be set and collected by the states and nowhere near 25%.
    Like (42)
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    Yes. I understand that we want to tax things. But this is too high. More of a 10% tax would make sense since we are taxed too high already.
    Like (33)
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    Legalizing marijuana would be an ethical solution to the oppression placed upon American citizens, as well as removing it from a schedule-I drug, which is evident that it was placed there politically and not scientifically. Legalizing marijuana could help alleviate the plight currently affecting agriculture and will enable the ability to create entirely new industries or revive many lost, due to this political oppression brought by the Great American Conservatives. The environment can also benefit from the legalization of marijuana.
    Like (24)
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    I believe it should be legalized but I do not believe in an extra tax for marijuana. I’m tired of all these taxes on every single little thing and eventually you see that you’re triple taxed for buying one thing. Legalize and decriminalize but do not tax!!! HR 1227 is a much better bill!! It would decriminalize marijuana without any tax.
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    Marijuana has helped me, as a veteran, to deal with my anxiety and PTSD. However, taxing it at 25% is a punitive tax rate. It should not be taxed at the Federal level any more than 10%, if that.
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    This argument that marijuana is THE gateway drug is utter nonsense. Do some honest research and you will find that the REAL gateway drug is alcohol. Usually obtained from mom and dad's liquor cabinet. If you use alcohol your a drug abuser too.
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    Although I support the legalization of marijuana, I do not support the tax rate. The tax rate should be comparable to that of alcohol and tobaccos. The GOP just wants to make money as usual with a luxury tax rate off the bat.
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    25% tax? No, the bill would be fine at normal sales tax. 25% is an unjust burden on the consumers.
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    As I said on another pot related issue there is no legitimate research proving that weed is a so called gateway drug. Yes some people will go on to try harder drugs. But it's like saying that everyone that drinks will become alcoholic. States where weed is legal and taxed are seeing annual surpluses rather than deficits. Legalize, tax, and regulate it. Then we all can benefit.
    Like (11)
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    A 25% tax seems extreme and prohibitive. I am okay with taxing it, but most states are already imposing marijuana taxes so this could potentially damage sales and limit the funds gained from the tax.
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    Legalize, but let the states set and keep the tax.
    Like (10)
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    Marijuana has many healthful benefits and is very effective in treating numerous issues such as anxiety, pain, PTSD, depression, sleeplessness. There are very few if any side effects. It is ridiculous that it is classified as a dangerous drug, in the same categories as heroin and cocaine. In addition we are wasting so much money prosecuting and jailing people on marijuana charges. Thank you.
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