Gardner said the bill had about four or six co-sponsors on the Senate side but admitted that there was a "significant education push we have to do" to garner more support. "We're looking at it, but I probably will end up supporting that, yes".
Trump said he is likely to support the federal legalization effort despite a warning against it from the coalition of narcotics officer groups.
"President Trump's comments reaffirm his previously private commitment to Senator Gardner regarding his willingness to support a federalist approach to state marijuana laws", NORML Executive Director Erik Altieri told Cannabis Now.
The measure would amend the controlled substances act so that the act no longer applies to people who follow state laws regarding marijuana. "With its bipartisan backing in the Senate, it symbolically signals the eventual end of marijuana prohibition at the federal level".
The law would help cannabis companies that now function as all-cash businesses and struggle to work with banks due to federal laws.
Bill C-45, or the Cannabis Act, passed the Senate with 52 votes for, 30 against and one abstention after months of debate over the ramifications of legalization.
The bill was unveiled Thursday by Colorado Republican Sen.
Warren said current federal prohibition on marijuana impedes effective marijuana treatments for medical patients and unjustly targets minority communities. Recreational marijuana is already legal in both MA and Colorado.
"At its heart, this.is a pro-states'-rights bill that remedies a business relationship problem that has vexed community banks across 46 states", said Fine, now president and CEO of Calvert Advisors.
Trump's support of a lift on the ban would bring in regulation of marijuana sales, and also allow scientists to pursue medical resrarch into its uses.
The Bill C-45 was first introduced in the Senate and given first reading on November 28, 2017 after it was passed in the House of Commons on November 27. "He talked about his support for a state's rights approach during the campaign".
Friday's statement, however, was the first time Trump had made that support public.
President Trump has taken a hard line against drugs. Jeff Merkley, D-Ore., that would prohibit federal banking regulators from terminating or limiting the deposit insurance to legitimate marijuana-related businesses or discouraging depository institutions from offering financial services to an account holder exclusively because of affiliation with such businesses. And it's Attorney General Jeff Sessions who posses the biggest threat to the bill.