Republican U.S. Rep. Nancy Mace of South Carolina, announced plans this week to unveil a new bill called the States Reform Act.
The bill is intended to legalize marijuana at the federal level.
Mace took to her Twitter to say she will share a draft of the bill during a media gathering in Washington D.C.
“My States Reform Act will put states in the driver’s seat and codify cannabis reforms throughout the United States. Press conference Monday,” Mace wrote.
Marijuana Moment reported last week that Mace was working on such a bill.
On the news of the bill, several marijuana related companies saw their share prices surge on Wall Street.
Mace’s measure would reportedly remove marijuana from the list of federally controlled substances and create a new regulatory system, which would include a 3.75% excise tax.
The marijuana legalization bill will also join several others that have already been introduced in Congress, including the MORE Act and the Cannabis Administration and Opportunity Act.
