In recent news, the House of Representatives passed, 228 to 164, a historic vote that would remove Marijuanna from the Controlled Substance Act. The MORE Act would end years of prohibition of the cannabis plant. In such heated political times, there was a push back by bill opponents, which was somewhat expected as we continue through an international pandemic. We will now sit and wait for the second vote in Georgia to see if the democrats will win needed seats in the senate.
The already multi billion dollar cannabis industry would open up an infusion of new business opportunities as well as the ability to engage in interstate commerce, which alone is a game changer. With federal legalization, all operations would be covered by the federal umbrella and would bring about legal infrastructure desperately needed. Randal Meyer sits as the Executive Director of Global Alliance for Cannabis Commerce and views the MORE Act in simple terms, as decriminalizing and descheduling cannabis as a drug. These are the foundations that are needed in a volatile industry such as Cannabis, the ability to bank with federal backing is a big win in itself. Meyer also states,
“It would allow state-legal businesses to operate in a federally legal environment, with business-tax deductibility and access to legal processes, and permit states to set their own cannabis policy, be it total prohibition or not.”
There are obvious misconceptions about the MORE Act, perhaps the grandest being that the federal government will create federal licensing. In the act, this will not happen nor will there be any creation of regulatory framework. Based on this position, all states will maintain individual power of regulation. Another common misconception is that it will lead to the decline of medical marijuana programming. However, studies show that even with the offering of both medical marijuana and recreational cannabis, medical sales continue to remain strong. We see this in the Colorado and Michigan markets. Studies show that a larger number of older users prefer to utilize the medical program rather than purchase recreationally. The advantage of the tax break given to medical patients is also a noteworthy incentive.
Exploring the many positive possibilities that could come from the federal legalization of cannabis is extremely exciting. Especially in efforts with scientific research, having federal backing would be tremendous. It’s also critically important to let all of the men and women sitting in jail for simple cannabis infractions, get another chance to participate in society as well as the cannabis industry. Our economy needs the infusion and we all know that! Infrastructure and education can also be the benefactors of the federal legalization of marijuana. It is amazing that the movement has even reached the milestones to date! Where there is hope, there is unfortunately controversy. Will the MORE Act have the legs to make it cross the finish line? Seems like a slam dunk, please stay tuned.
At Elite Environmental Solutions we look forward to serving the cannabis community nationwide. If you are a cannabis community member and would like to learn more about facility automation or building management systems, please explore our website or contact us directly.
Featured image is from https://www.senate.gov