Cannabis News
We’ll Get to It When We Get to It Says Biden Administration about Marijuana Legalization Review
According to the DEA’s administrator, the agency has not received a clear timeline from the Biden administration regarding the study of marijuana’s federal status, as suggested during a congressional hearing. In response, Tennessee Democrat U.S. Rep. Steve Cohen stated his intention to speed the process.
Last autumn, President Joe Biden initiated an “administrative review” to reevaluate marijuana’s classification under the Controlled Substances Act. As part of this process, public health agencies such as the U.S. Food and Drug Administration (FDA) and the Department of Health and Human Services are currently studying published scientific data, including information from state regulators’ medical marijuana programs.
The health agencies will then provide a recommendation to the DEA after considering the scientific evidence. Health Secretary Xavier Becerra stated in June that the aim is to complete this process by the end of the year.
However, during the recent congressional hearing, DEA Administrator Anne Milgram was less definitive about the timeline, stating that she had yet to receive a specific timeframe for the consideration and rescheduling recommendation.
President Biden has expressed his support for federal medical cannabis legalisation and marijuana decriminalisation. Rescheduling marijuana, currently categorised as a Schedule 1 controlled substance, would significantly benefit the marijuana industry, as it would remove tax restrictions under Section 280E of the federal tax code.
Congressional Pressure Mounts for Swift Action
DEA Administrator Anne Milgram’s disclosure that the Biden administration has not provided a specific timeline for rescheduling marijuana has sparked growing congressional pressure for a swift resolution. Leading the charge is Tennessee Democrat U.S. Rep. Steve Cohen, who expressed concerns over the lack of clarity and called on the DEA and relevant agencies to expedite the process. The potential benefits rescheduling drives Rep. Cohen’s urgency could bring to the cannabis industry and the public.
The current Schedule 1 classification presents challenges for legitimate cannabis businesses operating within state laws, including restricted access to banking services and burdensome tax restrictions under Section 280E. By advocating for a quicker resolution, Rep. Cohen aims to unlock the industry’s potential, stimulate economic growth, and improve patient access to medical cannabis. However, opponents of marijuana reform still raise concerns about potential abuse, increased access by minors, and long-term health effects, underscoring the need for a balanced approach in the ongoing deliberations.
Rep. Cohen’s demand for a specific and accelerated timeline underscores a rising belief that it is time for the federal government to take decisive action on marijuana rescheduling, even as the marijuana industry, patients, and advocates wait for additional details. Although it’s unclear whether the Biden administration will respond with a more specific strategy, the situation will be widely studied in the coming months. A crucial part of the ongoing discussion will be striking the correct balance between the benefits of rescheduling for the economy and society and public health considerations.
The Impact of Marijuana Rescheduling on the Industry
Marijuana’s potential rescheduling from Schedule 1 to a lower classification carries significant implications for the cannabis industry. A key advantage would be removing tax restrictions under Section 280E of the federal tax code. Currently, legal cannabis businesses face high tax rates due to their inability to deduct ordinary expenses, hindering their growth and financial viability. Rescheduling could alleviate this burden, enabling companies to reinvest in research, development, and expansion, stimulating economic growth within the industry.
Additionally, rescheduling could pave the way for increased research and development in the medical cannabis sector. As a Schedule 1 substance, marijuana’s classification restricts scientific research on its medical benefits. A shift in classification would facilitate more extensive studies, allowing scientists to explore its therapeutic potential further. This could lead to the development of new and more effective medical treatments, benefiting patients and potentially contributing to advancements in public health.
Beyond economic and scientific impacts, marijuana rescheduling may transform public perception. The Schedule 1 label has long been associated with criminality, perpetuating the stigma around cannabis. By rescheduling, the federal government could help dispel negative stereotypes, promoting a more positive image of the cannabis industry as a legitimate sector. As the stigma subsides, it may engender increased public support for cannabis reform efforts at the state and federal levels.
However, successful rescheduling necessitates a well-crafted regulatory framework. The transition to a new classification would require careful consideration of quality control, safety standards, and equitable access. Striking the right balance between regulation and free market principles will be pivotal in ensuring the industry’s responsible growth and safeguarding public interests.
The Biden Administration’s Stance on Cannabis Policy
President Biden’s stance on cannabis policy has transformed over time. During his tenure as Vice President, he adopted a cautious approach, opposing federal legalisation and supporting strict enforcement of drug laws. His stance has changed, though, becoming more progressive, particularly regarding the decriminalisation of marijuana and the use of medical cannabis. Biden advocated for cannabis policy changes throughout his 2020 presidential campaign, including federal decriminalisation, expunging prior convictions, and allowing states to enact their marijuana laws free from federal meddling. He also underlined the significance of giving cannabis research top priority to better grasp its possible advantages and disadvantages.
The “administrative review” launched last year to reevaluate marijuana’s classification under the Controlled Substances Act was considered a positive step forward. It demonstrated the administration’s willingness to reconsider the long-standing federal stance on marijuana and explore its potential medical applications. However, the lack of a specific timeline for completing the review has left stakeholders in the cannabis industry and advocacy groups eagerly awaiting more definitive action from the Biden administration. The delay has sparked calls for greater transparency and urgency in addressing this critical issue.
Proponents of rescheduling marijuana highlight the potential benefits of such a move. The cannabis sector might gain from fewer tax limitations and easier access to financial services by eliminating the plant from its present Schedule 1 status. Additionally, rescheduling would create new opportunities for cannabis research, enabling researchers to explore the drug’s therapeutic potential fully. This might result in the creation of cutting-edge cannabis-based therapies and pharmaceuticals that could help people with various illnesses. Rearranging the data could also help with social justice issues, as marijuana-related arrests and convictions have disproportionately harmed persons of colour. Federal limitations could be loosened, which could help lessen the prosecution of cannabis-related offences that are not violent.
Bottom Line
Growing pressure from Congress and advocates for a speedy settlement has been sparked by the Biden administration’s failure to provide an explicit schedule for marijuana’s reclassification. Although there are clear advantages to rescheduling for the cannabis sector and general health, abuse and public safety remain worries. Finding the correct balance between economic growth, social justice, and public health considerations will be crucial in determining the future of marijuana legalisation and regulation in the United States as the government considers its approach to cannabis policy.
PRESIDENT BIDEN ON WEED, READ ON…
