This past week Senators Gardner and Warren released a long-waited bipartisan marijuana bill that prioritizes states’ rights. The bill does not go as far as to legalize marijuana in the U.S. However, the bill stands to give states the power to determine how to treat marijuana within its borders. Logically, the marijuana community is supporting this bill and hoping it is a success!
Trump has said he most likely will back the bill and ultimately sign it. This is extremely controversial as it would put the White House in direct conflict with its Justice Department. As many know, Sessions rescinded Obama guidance that instructed law enforcement to not waste resources targeting the marijuana industry in states where it is legal.
This bill would mean that businesses involved in the marijuana industry as well as patients would no longer have to worry about the Federal government cracking down any moment. Raids of nurseries or dispensaries have been known to put them out of business. That is a risk that those in the industry are willing to take but may no longer have to.
Additionally, under current law businesses in states where marijuana is legal must pay taxes but are not eligible for tax deductions. Additionally, those in the industry do not have easy access to banks or loans. This creates many obstacles in the process of operating a successful business. This means these businesses operate on a cash basis, leaving them vulnerable to theft and more uncertainty. This bill is definitely a step in the right direction for both business and patients.
It will be interesting to follow how the Federal government as well as the states handle the effects of this bill. As the legalization of medical marijuana is fairly new on the state level it has been a trial and error process for all. If you are a nursery that is applying for a license or has been wrongfully denied a license contact us and we can help you attain your license. We can also help you stay compliant on a going forward basis. Lets face it, there are so many regulations set in place on the federal as well as state level that are everchanging it is hard to keep up while running your business. Let us handle that side of your business for you so you can be even more successful providing your products and growing your business.