Bulletins from the Beltway
Free from the Feds?
Oregon Sen. Ron Wyden introduced legislation in the Senate — The Marijuana Revenue and Regulation Act— that would deschedule marijuana by removing it from the Controlled Substances Act (CSA), establish a federal excise tax on legal sales and create a system of permits for businesses to engage in cannabis commerce. This would allow states to establish their own cannabis regulations free from federal interference.
Wyden also introduced another piece of legislation exempting state-legal cannabis businesses from what is known as 280(E), which prevents them from taking normal business tax deductions that are available to operators in other industries. Co-sponsors include Colorado’s senior U.S. Sen. Michael Bennet.
From “unalterably opposed” to legalization to “I’m all in”
Former U.S. House Speaker John Boehner announced a new, industry-funded group to lobby for marijuana reform in banking, taxes and research in an effort to overhaul federal cannabis policy.
Marijuana Business Daily Article »
Riding the hemp wave
The USDA is now working to implement plans for increased hemp research and provision of oversight to state plans for growing hemp. As the USDA makes laws clearer, CBD retailers will enter the U.S. market in a major wave.
For a look at the growth of Colorado’s hemp industry:
