President Joe Biden announced the commutation of sentences for over 2,000 individuals convicted of nonviolent drug offenses. The move makes him the president with the most individual pardons and commutations in U.S. history. The nearly 2,500 commutations aim to address sentencing disparities related to crack and powder cocaine offenses and outdated sentencing enhancements. The 2010 Fair Sentencing Act reduced penalties for crack cocaine offenses and eliminated mandatory minimum sentences for possession. The 2018 First Step Act allowed these reduced penalties to be retroactively applied to pre-2010 sentences.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President Joe Biden announced the commutation of sentences for over 2,000 individuals
00:06convicted of non-violent drug offenses. The move makes him the president with the most
00:10individual pardons and commutations in US history. The nearly 2,500 commutations
00:16aim to address sentencing disparities related to crack and powder cocaine offenses
00:20and outdating sentencing enhancements. The 2010 Fair Sentencing Act reduced penalties
00:25for crack cocaine offenses and eliminated mandatory minimum sentences for possession.
00:29The 2018 First Step Act allowed these reduced penalties to be retroactively applied
00:34to pre-2010 sentences. For all things money, visit Benzinga.com slash GSTV.