U.S. Senator Ron Wyden of Oregon has introduced legislation to legalize marijuana at the federal level.
Senate Bill 420 (yes, that’s right) would also regulate and tax cannabis. The Marijuana Revenue and Regulation Act is part of a larger package that aims to revise taxes for small businesses that sell cannabis, and also ensure banking for legal operations.
This all sits well with Joseph Hughes, of Eugene OG, a local cannabis store. However, he says he’s also concerned over potential monopolies emerging in the market.
“What I’d be most worried about is in the future," begins Hughes. "Larger companies purchasing licenses from smaller companies and just pretty much having an ownership over the market, making it much harder for small license holders to make a profit.”
Hughes says current federal prohibitions have kept lots of product within state borders, causing a hefty cannabis surplus that’s driving down prices.
A similar bill has been introduced in the House by Oregon Representative Earl Blumenauer.
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