Today, the Congressional Budget Office (CBO) released its cost estimate for House Resolution (H.R.) 3884, better known as the MORE Act, which would decriminalize cannabis at the federal level, expunge the records of people convicted of federal cannabis offenses, and require resentencing of some
federal prisoners.
According to the CBO, the bill, which was passed by the House of Representatives, would raise $13.7 billion in federal revenue over the next ten years. The bill would also reduce the federal deficit by $7.3 billion.
The revenues generated by the legislation are a combination of cost savings from the reduction of the number of people in federal prisons and the amount of time federal inmates serve, and fees and taxes.
The passage of H.R. 3884 is a major milestone in the fight to legal cannabis in the United States. However, the bill’s passage may prove merely symbolic as the final days of the 116th Congress approach.
For the proponents of federal decriminlaizaiton, the election of Joe Biden as President is a welcomed change from the current Administration. But, a new President is only one piece of the puzzle.
At the moment, Republicans in the U.S. Senate hold a slight majority over Democrats, who are generally more supportive of decriminalization. If the Republicans are able to retain the two seats in Georgia, the prospects for a full-decriminalization of cannabis appear dim. If Democrats pick up both seats, the path becomes a lot easier for those advocating for an end to the “war on weed.”