A Republican U.S. representative from Florida reintroduced legislation that would reclassify marijuana under federal law.
The bill would greatly aid both marijuana businesses suffering under federal tax burdens as well as would-be researchers.
ADVERTISEMENT
Rep. Greg Steube, who began his third term this month, reintroduced what he calls the “Marijuana 1-to-3 Act,” his office announced in a recent news release.
The bill would move marijuana from Schedule 1 in the Controlled Substances Act to Schedule 3.
Such a move would have major ramifications for cannabis researchers as well as legal marijuana businesses.
Steube’s measure comes almost four months after President Joe Biden called on the U.S. attorney general and the secretary of the Department of Health and Human Services to begin the process of reviewing marijuana scheduling under federal law.
Marijuana companies currently barred from claiming many normal business expenses on their federal tax returns would
Read full article on Marijuana Business Daily
