Before you have an opinion on Rescheduling of Cannabis ... It is often said that history is a great predictor of the future. So based on that, many do not trust the Federal Government/Regulators on the implementation and execution of the rescheduling of cannabis based upon continuous misinformation and lies that have been in place for decades. If you question this, just remember the definition of Schedule I List Drugs - "Schedule I drugs, substances, or chemicals are defined as drugs with no currently accepted medical use and a high potential for abuse." This is inaccurate based on (albeit limited) scientific research and evidence. So many have expressed opinions whether the rescheduling is a good thing or a bad thing, but reality is we really don't know until there is more definition and transparency to the execution. Things that need further definition: 1) "Timeline - of the rescheduling process itself, which may fluctuate greatly." 2) "Presidential election - what happens to rescheduling if former President Donald Trump beats current President Joe Biden in the coming November election and the rescheduling isn’t finished by the time he takes office." 3) "Another Cole Memo? - will the DOJ issue an updated version of the Cole Memo, and how that policy guidance could change – or leave undisturbed – the day-to-day operations of the cannabis trade." 4) "Congressional inaction - What is really needed to resolve this … is for Congress to act, to create a unified regulatory environment that involves both the states and federal government." 5) "Will the DEA’s move to reschedule encourage more banks to work with cannabis companies?" 6) "Will stock exchange officials to loosen up and accept marijuana businesses to the Nasdaq or New York Stock Exchange?" 7) "What other action could stem from this federal pivot?" "The future is unclear ..." https://lnkd.in/eBgfZfUS
Steve Goldner’s Post
More Relevant Posts
-
President Biden will not legalize cannabis anytime soon. Republicans and Trump will NEVER legalize cannabis. "According to a new report, there appears to be growing support among #Democrats to introduce #federallegislation that would legalize marijuana before the #cannabis holiday, 4/20. Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chairman Senator Ron Wyden (D-OR), and Sen. Cory Booker (D-NJ) are behind the movement, sharing their support for the legislation in a Dear Colleague letter, which POLITICO obtained. In the letter, the three top Democrats shared that a “growing number of Americans have made it clear, at ballot boxes, through their legislatures, and with their dollars: the #WaronDrugs has failed, and the federal government must respect the decision of states that have chosen to legalize cannabis.” Later this month, the group of Senators is expected to introduce The Cannabis Administration and Opportunity Act, which is believed to be an earlier version of the bill they previously introduced in 2022, Marijuana Moment reported. “The question today is not whether cannabis should be legal—many states have already moved ahead. The question now is whether cannabis should be subject to the same high regulatory standards, based on preserving public health and safety, that apply to alcohol and tobacco,” Schumer, Wyden, and Booker wrote to colleagues, Politico reported. The letter went on to say that the legislation is necessary to address those who were harmed by “the failed War on Drugs, predominantly from communities of color, receive the justice they deserve after decades of over-criminalization.” - Audacy, Inc.
Democrats want federal marijuana legalization bill ready by 4/20
audacy.com
To view or add a comment, sign in
-
Hey Cannabis Community (5/3), Many are the words that can be attached to the DEA's 5/1 Proposed Rescheduling of Cannabis: a. Half-assed b. Half-baked c. Half-hearted d. Half-measure e. All of the Above I vote e. All of the Above. (What's your vote?) There is an antidote, as reported by John Schroyer in Green Market Report (5/2), called CAOA (not an acronym that flows off the tongue) "the brainchild of Majority Leader Chuck Schumer of New York, Sen. Cory Booker of New Jersey, and Sen. Ron Wyden of Oregon." "The CAOA would be a much more dramatic policy change than the proposed move to Schedule III from Schedule I, by taking marijuana out of the schedule altogether, a move known in cannabis circles as “de-scheduling” that would accomplish full federal legalization. Doing so would have broad ramifications for the U.S. marijuana trade, in particular by opening the floodgates to interstate and international commerce. Schumer said that though the proposed reclassification of cannabis by the Department of Justice is a “truly historic step,” it’s far from what’s needed to remedy harms from the war on drugs, which he said “linger on to this very day” for millions of Americans." “Reclassifying cannabis is necessary, and it’s a long overdue step, but it’s not the end of the story. It’s not all we need to do. It’s time for Congress to wake up to the times and do its part by passing the cannabis reform that most Americans have wished for,” Schumer said, emphasizing that the CAOA would expunge criminal records for nonviolent cannabis crimes." Bravo Senators Schumer, Booker, and Wyden! https://lnkd.in/eKq55MzV
Senate Democrats reintroduce bill to federally legalize marijuana
https://www.greenmarketreport.com
To view or add a comment, sign in
-
🚨 In a surprising turn of events, the head of New York's Cannabis Office, Chris Alexander, has been asked to step down from his position. 👑 It seems that the old adage "Heavy is the head that wears the crown" holds true even in the world of marijuana legalization. 🌿 📰 According to a report from the Times Union, the Office of Cannabis Management's board of directors asked Alexander to resign. 🤔 The reason for his departure is still unclear, but sources say that it may have been due to disagreements over the office's direction. 💸 Despite this setback, the legalization of recreational marijuana in New York is still moving forward. The state has already approved the sale of medical marijuana and is now working on regulations for the recreational market. 💰 According to a New York State Department of Health report, the legal marijuana industry could generate up to $3.5 billion in annual sales and create tens of thousands of jobs. 💼 🤝 As the state moves closer to legalization, it's important to remember the potential benefits that this industry could bring. In addition to generating revenue and creating jobs, legal marijuana could also help reduce the number of people incarcerated for non-violent drug offenses. ⚖️ 🗣️ As one advocate for legalization put it, "This is about more than just marijuana. It's about justice, it's about economic opportunity, and it's about creating a more equitable society." 🌱 🌟 So while the head of the Cannabis Office may have been asked to step down, the push for legalization in New York is still going strong. With the potential for billions in revenue and thousands of jobs, it's clear that this is an industry worth fighting for. 💪 #NewYork #Cannabis #Legalization #Marijuana #Justice #Equality #CAURD
N.Y. cannabis director out as Hochul announces 'overhaul' of troubled office
timesunion.com
To view or add a comment, sign in
-
My thanks to Marijuana Moment for offering a great platform for this conversation and giving both sides a means to share their opinions. Most of us in the cannabis community don't see eye to eye on every detail of our battle to fully decriminalize the plant nationwide, but we can all agree on the fact that there are still a small contingent of prohibitionists that will latch onto ANY tactic they can find to slow or halt this inevitable progression out of unfounded fear and misunderstanding. In this case, I'm ambivalent. I never thought Schedule 3 was a good idea anyway. I think it should be regulated like lettuce. By far, the greatest societal harms attributed to cannabis use are those associated with laws that shouldn't exist. I've lived for half a century, every year of it in a police state with the largest prison population in the world. Nearly one percent of our population is or has been incarcerated, and a huge portion of that is due to cannabis. Hell, I was incarcerated for ADVOCATING for the plant, albeit for a mere 24 hours. Actually, I have a lot of mug shots for that, but that's another story lol. I see some rescheduling advocates saying that they think it's still moving forward. Smart people who really understand the law too! I wholeheartedly disagree. A case like this will make its way all the way to SCOTUS. They will entertain, and I believe agree with the prohibitionist arguments against what they say is the regulatory overreach of this decision--especially the new two part test they used to determine currently acceptable medical use. Let's face it, Schedule 1 cannabis has been nothing short of a cash cow to the federal government since asset forfeiture (aka, literal highway robbery) kicked in in earnest. And the punitive 280e prohibition against tax writeoffs means cannabis businesses pay more federal tax than any other business in the nation until it's rescheduled to Schedule 3 or less, or DEscheduled altogether (my personal preference). Now that fully half the states have legal recreational sales, and most other states have legal medical sales, these businesses are injecting the feds with mountains of cash for them to waste as they see fit--in addition to the ongoing asset forfeiture. You think the feds are gonna give that up without a fight? Happy 4th ya'll. Here's praying that some day soon we all know what it feels like to live and breathe truly free. It won't happen unless we make it happen. #EndThePrisonState
The Supreme Court Nuked Cannabis Rescheduling With Its Chevron Ruling (Op-Ed) - Marijuana Moment
https://www.marijuanamoment.net
To view or add a comment, sign in
-
A GOP-led House committee has proposed a spending bill that, for the first time, does not include the longstanding rider that has prevented D.C. from legalizing recreational marijuana sales. Additionally, the bill introduces protections for banks that provide services to cannabis businesses, aiming to alleviate the safety and operational risks associated with the current cash-only nature of the industry. This shift in legislation reflects a broader move toward normalizing and regulating cannabis at various government levels. Key players include: Rep. Dave Joyce (R-OH), chair of the Congressional Cannabis Caucus and subcommittee chair, who is leading the charge for these changes. Rep. Andy Harris (R-MD), who previously added the rider blocking D.C. cannabis sales. The spending measure also touches on other local D.C. policies but distinctly marks a pivotal change in cannabis policy by removing barriers to its sale and easing banking operations for cannabis businesses. The new legislative direction underlines the ongoing transformation in U.S. cannabis policy, recognizing the need for regulation over prohibition. https://lnkd.in/eSays_5F
GOP Congressional Committee Removes D.C. Marijuana Sales Ban And Adds Cannabis Banking Protections In Key Spending Bill - Marijuana Moment
https://www.marijuanamoment.net
To view or add a comment, sign in
-
Hey Cannabis Community (5/3 part 2) Many thanks to Kyle Jaeger for the 5/2 Marijuana Moment in depth detail on COAO "CAOA is being introduced with a total of 18 original cosponsors. In addition to the trio leading the bill, the other members signed on are Sens. Patty Murray (D-WA), Jeff Merkley (D-OR), Kirsten Gillibrand (D-NY), Elizabeth Warren (D-MA), Ed Markey (D-MA), Michael Bennet (D-CO), Gary Peters (D-MI), Tina Smith (D-MN), John Hickenlooper (D-CO), Ben Ray Luján (D-NM), Alex Padilla (D-CA), Peter Welch (D-VT), Raphael Warnock (D-GA), John Fetterman(D-PA) Laphonza Butler (D-CA)." The details are inspiring. Of the 27 bullet points, these are my favs: - Require the attorney general to finalize a rule removing marijuana from the CSA within 180 days of enactment. - Expunge the records of people with low-level, federal cannabis convictions within one year of enactment, while allowing those currently incarcerated over marijuana to petition the courts for relief. - The Financial Crimes Enforcement Network (FinCEN) would need to update or issue new guidance clarifying to banks and credit unions that the policy change means that they can lawfully service legitimate cannabis businesses. - Physicians with the U.S. Department of Veterans Affairs (VA) would be authorized to issue recommendations for medical cannabis to veterans. https://lnkd.in/eKq55MzV
Senate Democrats reintroduce bill to federally legalize marijuana
https://www.greenmarketreport.com
To view or add a comment, sign in
-
Can we please move forward with de-scheduling cannabis to regulate and tax it like alcohol? I am not equating the two. Cannabis improves lives while alcohol doesn't. The ever-increasing economic applications and medical benefits of cannabis versus the litany of health issues and societal problems caused by alcohol is hypocrisy at its finest IMHO. To the US Government: we the people want you to stop wasting money fighting a winless "war" against cannabis and instead collect appropriate taxes on it and let us move products between States and internationally. Then the entire country and the world can enjoy the amazing work being done by the humans along the West Coast, the Gulf Coast, the East Coast, and throughout the heart of America. Abolish the application of 280E to legal State cannabis companies and instead apply it to coke, crack, and heroin dealers as it was intended? When we care about the quality of the outputs and not just the profits gained, humans grow phenomenal cannabis that helps millions of people have a better day. In the end, life is a series of days. For me, I choose choice. How much fun will you have today? Cannabis enhances my quality of life, and it's my choice. If this bothers you, I ask why and can you help me understand why you hold this viewpoint? https://lnkd.in/gtxPy_My
Support For Marijuana Legalization Reaches Record High Of 70 Percent, Including Strong Majority Of Republicans, Gallup Poll Shows - Marijuana Moment
https://www.marijuanamoment.net
To view or add a comment, sign in
-
Cannabis Rescheduling Update: The latest news and information concerning the federal rescheduling of cannabis indicate that the process is moving forward with significant momentum. The U.S. Department of Justice (DOJ) and the Drug Enforcement Administration (DEA) have been actively engaged in the rulemaking process to reclassify cannabis from a Schedule I to a Schedule III drug under the Controlled Substances Act. This change would be one of the most substantial shifts in federal cannabis policy since the Controlled Substances Act was enacted in 1970. The DEA recently completed a public comment period, during which nearly 43,000 comments were submitted. The majority of these comments supported either full descheduling or broader decriminalization, rather than just rescheduling to Schedule III. Despite this, the rescheduling is still expected to proceed, with the final ruling anticipated to be published as early as the end of August or by September 2024. Once published, the new rule could take effect 30 days later, potentially by late September or October. Rescheduling to Schedule III would allow for expanded research and could provide certain legal protections for state-legal cannabis businesses, such as eligibility for tax deductions.
To view or add a comment, sign in
-
Breaking News: The Justice Department has submitted its proposed regulation to reschedule marijuana from Schedule I to III under the Controlled Substances Act. This follows on the heels of the announcement two weeks ago that the DEA has approved this rescheduling proposal after a recommendation last year from the Department of Health and Human Services. So the process moves forward. Stay tuned for more information from Clark Hill Law's Chambers USA ranked Cannabis Industry Group. If you've read any of my recent posts or listened to our most recent Cannabis Industry Group podcast, you'll have a pretty good idea of what this means both in the short run and the long run. In particular, we have discussed at length what this means for Internal Revenue Code Section 280E. In the near future, we'll have a follow up podcast to discuss the timeline of this proposed rule so cannabis operators and investors can plan their future in a Schedule III environment! National Cannabis Roundtable The Cannabis Financial Industry Group (CFIG) National Cannabis Industry Association Benzinga Cannabis NORML Robert Hoban Charles Murphy Craig Small Michael Cristalli Latasha R. Thomas Margaret (Molly) DiBianca Adam Fromm Amber M. Naiman Halston Trabucco https://lnkd.in/gnmjBATb
Justice Department Submits Proposed Regulation to Reschedule Marijuana
justice.gov
To view or add a comment, sign in