Senate Bill S.420: Key Points and Implications

A new bill introduced by Senator Ron Wyden gives the Drug Enforcement Administration (DEA) 60 days to remove marijuana from the list of controlled substances. Senate Bill S.420 requires sellers to add an excise tax to the price of marijuana, similar to taxes on alcohol and tobacco products. Additionally, companies will need to register for special permits to sell marijuana and its derivatives.

Background and Related Legislation

This is not the first time a bill numbered 420 has appeared in Congress this year. Just last month, another federal lawmaker from Oregon, Earl Blumenauer, introduced H.R. 420, a bill to regulate marijuana use in the same way as alcohol. Also last month, Minnesota state legislators introduced a marijuana legalization bill labeled HF 420.