Sen. Cory Booker Says He's Optimistic About Federal Marijuana Decriminalization After Signaling Possible

Weeks after the long-awaited marijuana decriminalization Senate billwas presented, it has faceda lot of criticism, mostly for its complexity. Many industry experts, such as Cantor FitzgeraldsPablo ZuanicandEmily Paxhia, co-founder of one of the longest-running dedicated cannabis investment funds,Poseidon Asset Managementagree that the chances of the bill passing the Senate are slim. The bill is called theCannabis Administration And Opportunity Act (CAOA).

There is too much packed into CAOA for this to get through, this was a Hail Mary bill put forth by Schumer and the supporting democrats, Paxhia recentlytold Benzinga.

Nevertheless, one of the bills leading sponsors,Senator Cory Booker,remains optimistic about seeing marijuana decriminalized at the federal level.

I'm actuallygaining enthusiasm, Bookertold Pix11on Wednesday.

We have more andmore state senators coming on to the major bill, and now more Republicans stepping up looking to help us perhaps land to compromise.

The statement came on the heels of Booker having revealed thathe isopen to compromise,signaling the possibility of his chamber passing a marijuana banking measure with certain social equity components, before taking action on theCAOA.

Im open to compromises that are going to achieve my goals of safety, of investment opportunities that are equal for business communities, and, finally, to make sure we do something for all of these people right now who have marijuana possession charges that deserve some relief from the impact that its having on their economic and family wellbeing, Booker told NJ Spotlight News last week.