Federal cannabis reform could
reshape everything from how hemp is regulated to how businesses are taxed.
But right now, Washington can t agree on what counts as legal.
Hey y all. I m Clint Palmer the Compliance
Director fo Hemp Law Group. President Trump said two months ago that
marijuana would be reclassified within weeks. But we re looking at reclassification, and
we ll make a determination over the next, I would say, the next few weeks.
And wouldn t ya know it we re still waiting. Moving marijuana to Schedule
Three wouldn t legalize it. But it would finally admit that
cannabis has medical value. It would also let cannabis businesses take
tax deductions like every other industry. Republicans and Democrats both want progress.
Meanwhile, in Congress, hemp is somehow back on trial.
A spending bill in the House includes a plan to ban any hemp products with any THC even
the stuff that occurs naturally in the plant. Lawmakers say that s like banning
orange juice because it has sugar. Twenty-seven members of Congress on both
sides of the aisle signed a letter telling Speaker Mike Johnson to knock it off.
They warned the ban would deal a fatal blow to the 28-billion-dollar hemp industry.
Their solution is to just regulate it like grown-ups by setting age
limits, require lab testing, and stop candy knockoffs that confuse kids.
Those aren t exactly radical ideas. And then there s Mitch McConnell.
The same guy who legalized hemp back in 2018 now wants to ban half of it.
Apparently, he didn t think we d make gummies out of it.
He says bad actors are turning hemp into potent edibles and
selling them like candy at gas stations. He s not wrong but his solution is to
criminalize anything with measurable THC. For years, I have called on the FDA to
regulate these products. They have not taken the initiative to do so, which has
certainly been an ongoing disappointment. Rand Paul wasn t having it.
He blocked McConnell s bill, then introduced his own called the HEMP Act.
It would triple the legal THC limit and tighten the rules on synthetics instead
of nuking the whole industry. McConnell s ban got stripped out of the Senate
bill, but the House version still includes it. Meanwhile, the U.S. Hemp Roundtable
sent Trump a letter begging him to stop Congress from undoing the law he signed.
They reminded him that the hemp boom of an estimated 328-thousand American
jobs started under his watch. And now it s on life support.
Their message is simple: regulate it, don t ban it.
Otherwise, all you ll do is drive hemp back underground.
And while Congress fights over THC levels, the public s moved on.
A new national poll found that 61 percent of Americans think
marijuana is healthier than alcohol. So basically, the voters are already there
the politicians just need to catch up. Seventy-three percent say
cannabis has health benefits. Two-thirds expect it to be legal
nationwide within five years. Even most Republicans now say states
should be free to legalize it. So what happens next?
We re waiting on Trump s rescheduling decision. We re watching Congress fight
over what hemp even means. Except not at this exact moment.
As of this recording, the federal government is still shut down.
You re not alone in wondering how long it ll take before federal law matches reality.
Before you go, hit subscribe to Hemp Law Group. We make sense of hemp law so you
can focus on running your business.
reshape everything from how hemp is regulated to how businesses are taxed.
But right now, Washington can t agree on what counts as legal.
Hey y all. I m Clint Palmer the Compliance
Director fo Hemp Law Group. President Trump said two months ago that
marijuana would be reclassified within weeks. But we re looking at reclassification, and
we ll make a determination over the next, I would say, the next few weeks.
And wouldn t ya know it we re still waiting. Moving marijuana to Schedule
Three wouldn t legalize it. But it would finally admit that
cannabis has medical value. It would also let cannabis businesses take
tax deductions like every other industry. Republicans and Democrats both want progress.
Meanwhile, in Congress, hemp is somehow back on trial.
A spending bill in the House includes a plan to ban any hemp products with any THC even
the stuff that occurs naturally in the plant. Lawmakers say that s like banning
orange juice because it has sugar. Twenty-seven members of Congress on both
sides of the aisle signed a letter telling Speaker Mike Johnson to knock it off.
They warned the ban would deal a fatal blow to the 28-billion-dollar hemp industry.
Their solution is to just regulate it like grown-ups by setting age
limits, require lab testing, and stop candy knockoffs that confuse kids.
Those aren t exactly radical ideas. And then there s Mitch McConnell.
The same guy who legalized hemp back in 2018 now wants to ban half of it.
Apparently, he didn t think we d make gummies out of it.
He says bad actors are turning hemp into potent edibles and
selling them like candy at gas stations. He s not wrong but his solution is to
criminalize anything with measurable THC. For years, I have called on the FDA to
regulate these products. They have not taken the initiative to do so, which has
certainly been an ongoing disappointment. Rand Paul wasn t having it.
He blocked McConnell s bill, then introduced his own called the HEMP Act.
It would triple the legal THC limit and tighten the rules on synthetics instead
of nuking the whole industry. McConnell s ban got stripped out of the Senate
bill, but the House version still includes it. Meanwhile, the U.S. Hemp Roundtable
sent Trump a letter begging him to stop Congress from undoing the law he signed.
They reminded him that the hemp boom of an estimated 328-thousand American
jobs started under his watch. And now it s on life support.
Their message is simple: regulate it, don t ban it.
Otherwise, all you ll do is drive hemp back underground.
And while Congress fights over THC levels, the public s moved on.
A new national poll found that 61 percent of Americans think
marijuana is healthier than alcohol. So basically, the voters are already there
the politicians just need to catch up. Seventy-three percent say
cannabis has health benefits. Two-thirds expect it to be legal
nationwide within five years. Even most Republicans now say states
should be free to legalize it. So what happens next?
We re waiting on Trump s rescheduling decision. We re watching Congress fight
over what hemp even means. Except not at this exact moment.
As of this recording, the federal government is still shut down.
You re not alone in wondering how long it ll take before federal law matches reality.
Before you go, hit subscribe to Hemp Law Group. We make sense of hemp law so you
can focus on running your business.
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Video Duration: 00:04:06
