California Attorney General Rob Bonta has joined a coalition of 12 attorneys general from multiple states. They have sent a letter expressing their support for the federal government’s efforts to evaluate and reschedule cannabis. The goal is to allow for federal recognition of its medical and research value.
In a recent letter, the Drug Enforcement Agency (DEA) has been urged to reconsider the classification of cannabis. The request is to move it from a Schedule I controlled substance, which is typically reserved for substances with no recognized medical benefits and high addictive potential, to a Schedule III controlled substance. This change would acknowledge the legitimate medical applications of cannabis and its lower risk for abuse.
In a significant development, cannabis businesses in 38 states with legal cannabis programs, including California, could potentially benefit from federal tax exemptions. Moreover, this change would also pave the way for more extensive testing to ensure the safety and effectiveness of medical cannabis.
Many states have now either legalized cannabis or allowed for its medical use. “The Attorney General Bonta has emphasized the urgent need for the federal government to reschedule this controlled substance. This move would enable medical use, create research opportunities, and grant legitimate businesses recognition by the IRS,” stated Bonta.
The federal government’s classification of cannabis is being questioned due to its perceived equivalence to drugs like heroin or ecstasy. However, many argue that this classification does not align with the actual risks and addictive properties of cannabis. There is ample evidence and data to support that cannabis has legitimate medical uses, and its current classification creates barriers for states that have legalized its use and regulated sale.
I commend the Biden Administration for their efforts to request this evaluation and urge the DEA to approve this change to allow legitimate cannabis businesses to thrive and states to better protect the legal market.”
In a letter, attorneys general are urging the federal government to implement a crucial change that will greatly benefit the states in managing their own legal programs. The impact of this change cannot be understated.
- Legitimate cannabis and cannabis-related businesses may soon see a reduction in their tax burden as they are authorized to take IRS deductions.
- Efforts are being made to reduce the obstacles faced by cannabis users in accessing public housing, obtaining immigrant and nonimmigrant visas, and legally possessing firearms.
- States with legal cannabis markets are working to support businesses and protect public safety by discouraging the illicit cannabis market.