On Friday, February 20, U.S. Representatives Jared Polis (D-CO) and Earl Blumenauer (D-OR) introduced two separate bills in Congress to legalize adult-use marijuana at the federal level.
Polis’ bill, the Regulate Marijuana Like Alcohol Act, would let states choose to legalize cannabis without any fear of federal intervention. The bill would put a federal regulatory structure into place to accommodate the new law. Blumenaur’s bill, the Regulate Marijuana Like Alcohol Act, would tax cannabis sales at the federal level, in addition to any state and local taxes. (more…)
John Boehner had admitted that congressional bribery has been going on for a long time. When the House minority leader was questioned about taking bribes from tobacco lobbyists in June of 1995 in exchange for taxpayer subsidies, and then redistributing them to other congressional members on the House floor, Boehner said, “They [the lobbyists] asked me to give out a half dozen checks, quickly, before we got to the end of the month — and I complied. And I did it on the House floor, which I regret, and should not have done. It’s not a violation of the House rules, but it’s a practice that’s gone on here for a long time that we’re trying to stop and I know that I’ll never do it again.” (more…)
During a meeting with Israeli Prime Minister Benjamin Netanyahu in Jerusalem on Sunday, incoming chair of the Senate Foreign Appropriations Committee Lindsey Graham (R-SC) told the foreign leader Congress would “follow his lead” on a bill to reinforce sanctions on Iran.
“In January of next year, there will be a vote on the Kirk-Menendez bill, bipartisan sanction legislation that says, if Iran walks away from the table, sanctions will be reimposed,” Graham said. “If Iran cheats regarding any deal that we enter to the Iranians, sanctions will be reimposed.” (more…)
When residents of the District of Columbia voted to legalize recreational use of marijuana last month, cannabis fans cheered. Then they quickly realized that Congress – which has oversight over D.C.’s affairs – could overrule the will of the voters.
Now, it appears, that fear will come true sooner than expected – not in the next Congress, when Republicans will control both chambers, but during the lame duck session currently under way. (more…)
Congress has agreed to use federal deposit insurance, which was designed to protect the savings accounts of consumers, to cover risky trading by the nation’s biggest banks.
In a small provision in the budget bill, Congress agreed to allow banks to house their trading of swaps and derivatives alongside customer deposits, which are insured by the federal government against losses.
The budget move repeals a portion of the Dodd-Frank financial reform act and, some say, lays the groundwork for future bailouts of banks who make irresponsibly risky trades. (more…)