Marijuana Opportunity Reinvestment and Expungement Act

Floor Speech

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Ms. VELAZQUEZ. Mr. Speaker, I rise in support of this legislation because it is long overdue for our Federal laws to catch up with the legal reality in almost every State in the Union, and because Federal reform must place restorative justice as the top priority.

I thank Speaker Pelosi, Chairman Nadler, and my fellow chairs for once again bringing this legislation to the House floor.

Mr. Speaker, voters in States like New York have led the way in changing their cannabis laws, emphasizing restorative justice for our most marginalized communities. This bill takes a meaningful approach to undo the wrongs of the failed war on drugs by removing cannabis as a schedule I drug and encouraging States to expunge low-level possession records.

Importantly, the MORE Act also helps entrepreneurs access affordable capital to start a legitimate business, which too often is a barrier to entrepreneurship for people of color regardless of industry.

As chair of the Committee on Small Business, I am proud the MORE Act includes measures my colleagues and I championed to ensure SBA programs, like the flagship 7(a) Loan Program, the disaster loan program, and Small Business Development Center resources, are available to legitimate cannabis businesses. The MORE Act is the best proposal to ensure communities disproportionately impacted by the prohibition of cannabis are best positioned to profit from its legalization.

Mr. Speaker, for that reason, I urge my colleagues to vote ``yes.''

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