President Donald Trump will be signing an executive order on Thursday that will direct the attorney to “expedite” and “complete” the marijuana rescheduling process, throw a lifeline to the hemp industry, allow doctors to prescribe CBD products that would be eligible for Medicare coverage and more, a White House official told reporters at a readout ahead of the signing event.
Marijuana Moment wasn’t invited to attend the background briefing, but obtained the transcript of the conversation.
Many details are consistent with reporting about the plan to move marijuana from Schedule I to Schedule III of the Controlled Substances Act (CSA), but the discussion revealed additional information about the order and how the administration is framing the reform.
The official started by emphasizing that the “common sense” administrative action is “focused on increasing medical research for medical marijuana and CBD” to “better inform patients and doctors.”
That means expediting the finalization of a rule to reschedule marijuana, they said. The move wouldn’t legalize cannabis, but it would help promote research while also letting marijuana businesses take federal tax deductions they’ve been barred from under an Internal Revenue Service (IRS) code known as 280E.
Here are new details about Trump’s executive order
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