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Revamping federal marijuana laws is recommended by a U.S. Health Agency

A green revolution? U.S. Health Agency's bold move sparks hope for marijuana laws nationwide

In a groundbreaking move, the U.S. Department of Health and Human Services (HHS) is paving the way for a significant shift in federal marijuana laws.

After a year-long review ordered by President Joe Biden, HHS is formally recommending the Drug Enforcement Administration (DEA) to reconsider the classification of marijuana under the Controlled Substances Act. This pivotal recommendation could reshape the landscape of marijuana legalization in the United States.

A fresh perspective on marijuana laws

For decades, cannabis has been grouped with substances like heroin and LSD as a Schedule I drug by the DEA, indicating a high potential for abuse and no recognized medical use. However, with 40 states allowing some form of marijuana use, this classification has seemed increasingly out of touch. HHS's proposal aims to reclassify marijuana from Schedule I to Schedule III, a shift that could have far-reaching consequences.

Small businesses and the marijuana industry are eagerly awaiting the DEA's decision. If the reclassification takes effect, it could relieve the industry of a heavy financial burden by allowing tax deductions for regular business expenses. This change alone could save the marijuana industry hundreds of millions of dollars annually.

While the Biden administration had hoped to announce the rescheduling in the coming fall, the timeline remains uncertain as the DEA initiates its public review process. The recommendation from HHS signals a step towards acknowledging marijuana's medical contributions, a sentiment echoed positively on Capitol Hill.

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Political capital and public support

Reaction to the HHS recommendation has been mostly favorable, with Senate Majority Leader Chuck Schumer commending the move. Schumer called on the DEA to swiftly follow through and emphasized the need for legislative action to end the federal prohibition on cannabis, echoing the sentiment of many marijuana legalization advocates.

This recommendation is not just a policy shift; it's also a potential political game-changer. Both parties are looking to capitalize on the widespread public support for flexibility of marijuana laws and legalization ahead of the next presidential election. Polls consistently show a majority of Americans favor legalization, creating an opportunity for politicians to align with popular sentiment.

However, the political landscape is mixed, with some Republicans endorsing rescheduling, while others like Florida Governor Ron DeSantis remain staunchly opposed. In Florida, where voters legalized medical marijuana, the Supreme Court is now considering a cannabis legalization initiative for the 2024 ballot.

Amidst these changes, there's also a bipartisan effort in Congress to facilitate banking services for legal cannabis companies through the SAFE Banking Act. Schumer has emphasized its importance and prioritization upon the Senate's return in September.

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