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.
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