What is MORE Act?

The Marijuana Opportunity Reinvestment and Expungement (MORE) Act is federal legislation that would remove cannabis from the Controlled Substances Act and establish a framework for federal cannabis legalization in the United States. First introduced in 2019 by Representative Jerrold Nadler, the MORE Act represents one of the most comprehensive federal cannabis reform proposals to date. Key provisions of the MORE Act include removing marijuana from Schedule I of the Controlled Substances Act, effectively decriminalizing cannabis at the federal level. The legislation would impose a 5% federal excise tax on cannabis products, with revenue directed toward community reinvestment programs, expungement assistance, and Small Business Administration loans for social equity applicants. The bill addresses social justice concerns through automatic expungement of federal cannabis convictions and resentencing for individuals currently incarcerated for federal cannabis offenses. It would also prohibit federal agencies from denying benefits, security clearances, or immigration status based solely on cannabis use or possession. Regulatory oversight would shift to the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), while the FDA would maintain authority over cannabis-derived products. The legislation includes provisions for interstate commerce, allowing states with legal cannabis programs to engage in cross-border trade. The House of Representatives passed the MORE Act in December 2020 by a vote of 228-164, marking the first time either chamber of Congress approved federal cannabis legalization. However, the bill stalled in the Republican-controlled Senate. A revised version was reintroduced in 2021 and passed the House again in April 2022 with a vote of 220-204, but faced similar challenges in the evenly divided Senate. While the MORE Act has not become law, it has significantly influenced cannabis policy discussions and demonstrated growing congressional support for federal reform. Industry analysts view passage of comprehensive federal legislation as crucial for banking access, interstate commerce, and institutional investment in cannabis markets. *This information is for educational purposes only and does not constitute legal or investment advice.*