In a historic announcement Thursday, President Joe Biden said that his administration would move to formally reschedule cannabis under federal law. The Justice Department has moved to reclassify cannabis from Schedule I to Schedule III under the Controlled Substances Act, beginning with a proposed rule posted today on the department's site.
"This is monumental," Biden said in a video Tweet Thursday. "Look folks, no one should be in jail for merely using or possessing marijuana. Period. Far too many lives have been upended because of our failed approach to marijuana. I'm committed to righting those wrongs. You have my word on it."
The White House's move comes less than three weeks after the Justice Department confirmed that the Drug Enforcement Agency would also reclassify cannabis.
"At my request, and guided by science and evidence, HHS (Health and Human Services) and DOJ have studied the drug's medical use and abuse and dependency potential and are recommending rescheduling – concluding reclassification would remove barriers to critical research," the president tweeted.
In a briefing following Biden's announcement, White House Press Secretary Karine Jean-Pierre called the reclassification a "major step" that "will remove burdensome, long standing barriers to critical research" and aims to address racial injustices in cannabis-related persecutions.
"The reality is while white, Black and brown people use marijuana at similar rates, Black and brown people have been arrested, prosecuted and convicted at disproportionately higher rates,” Jean-Pierre said. “The president’s actions today further his commitment to reverse longstanding injustices and to right historic wrongs.”
In another video tweet Thursday, Vice President Kamala Harris echoed Biden, and thanked the work of advocates for moving the issue forward.
"Currently, marijuana is classified on the same level as heroin, and more dangerous than fentanyl. We are finally changing that," Harris said.
The vice president's Thursday remarks echo those she made in March, urging the Drug Enforcement Agency to move quickly to reschedule the substance. As previously reported by Marijuana Moment, Harris also called for full legalization of cannabis during the round-table meeting which was attended by cannabis pardon recipients and Democratic Kentucky Gov. Andy Beshear.
“Nobody should have to go to jail for smoking weed. And what we need to do is recognize that far too many people have been sent to jail for simple marijuana possession,” Harris said.
Until the DOJ's formal rulemaking process has been completed, including a 60-day comment period, cannabis will legally remain a Schedule I substance. Additional information about the potential legislative impact of the newly proposed rule can also be found on the department's website. Already, the DEA has "signaled resistance," according to reporting by Marijuana Moment, highlighting sections of the proposed rule indicating the agency "believes 'additional information' could be collected via public comment or a possible administrative hearing could influence the final scheduling decision."
Regardless, cannabis stocks surged on Thursday according to Barron's while Forbes reported numerous major marijuana corporations are already benefiting from the announcement.
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