As we welcome in a new year and a new administration in Washington D.C. it appears the Democratic party is serious about marijuana reform legislation.

According to CNBC, a trio of U.S. Senate leaders are expected to advance the push to decriminalize weed nationwide in 2021.

The news has sparked the attention of Wall Street, with some marijuana stocks recently climbing in value. It's not surprising, considering that legal recreational pot sales in various states across America are bringing in millions of dollars in tax revenue.

Three U.S. Senators, including Majority Leader Chuck Schumer say passing the sweeping reform legislation will be a priority for the Senate. The primary reason for decriminalizing weed is that it is a first step to restorative justice for many criminal inmates who are still incarcerated on minor pot possession charges.

Sen Schumer has co-sponsored marijuana decriminalization legislation before, and in a statement said the new laws would “protect public health and implement responsible taxes and regulations.” according to CNBC.

There's a lot of money to be made in legal weed. Many states that now offer recreational pot are making millions in tax revenue. Colorado and Illinois are just two of the 36 states raking in big bucks from legal weed sales.

Considering Iowa's staunch aversion to the evil weed, its no surprise that conservative states are already seeking ways to "protect" their borders by passing local ordinances and laws in an attempt to defeat or delay the inevitable.

Ultimately, the consumers and voters will decide if and when the day comes that pot is nationally decriminalized and eventually legalized for recreational use coast-to-coast.

Source: CNBC