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Biden, a Democrat, supports legalizing medical marijuana for use “where appropriate, consistent with medical and scientific evidence,” White House press secretary Karine Jean-Pierre said Thursday.
A cannabis plant grow room in the Eastern Band of Cherokee Indians' Great Smoky Cannabis Co. dispensary in Cherokee, North Carolina. April 20, 2024. Marijuana is not legal for recreational use in N.C.
The Florida Medical Marijuana Legalization Initiative, also known as Amendment 2, was on the November 8, 2016, ballot in Florida as an initiated constitutional amendment. The amendment was approved by 71.32% of the vote making it the highest percentage win in 2016 of any other state cannabis ballot in the United States.
The Biden administration plans to reclassify marijuana for the first time since the Controlled Substances Act was enacted more than 50 years ago.
(Yes, at least some cannabis businesses, particularly state-licensed ones, do pay taxes to the federal government, despite its prohibition on marijuana.) Industry groups say the tax rate often ends up at 70% or more. The deduction rule doesn't apply to Schedule III drugs, so the proposed change would cut cannabis companies' taxes substantially.
The reclassification of cannabis is more than a policy change, it is an opportunity to revolutionize quality of life, stimulate economic growth, and open doors to innovation. Please keep in mind that if Americans want cannabis to be reclassified from Schedule I to III, we are going to have to fight for it. Thank you for your support.
The AdvisorShares Pure US Cannabis ETF , which tracks shares of cannabis companies, jumped over 25% on April 30 after the news broke but pared those gains in the following week.
HOUSTON, Jan. 13, 2025 (GLOBE NEWSWIRE) -- CBIH is proud to announce that Brian Cuban, Esq., a distinguished attorney, best-selling author, mental health advocate, and esteemed member of our Advisory Board, has officially joined the Reclassification Team. Mr. Cuban will play a crucial role in representing CBIH at the upcoming DEA hearings on marijuana rescheduling.