“These Republican members of Congress appear to be hoping to undermine President Donald Trump’s position…by preserving punitive tax treatment for licensed cannabis businesses, regardless of their classification under federal law.”
By Michael Cooper, National Cannabis Industry Association
Sometimes you have to wonder what some congressional opponents of cannabis reform are smoking.
The continued march of reform at the state level (buoyed by roughly two-thirds of Americans who believe it should be legal) paired with prohibition at the federal level leads to many odd results.
Few are more counterproductive than a small group of Republican members of Congress advancing policy that would effectively raise taxes on state-legal cannabis. Indeed, for casual observers of cannabis reform—such as patients and families who rely on medical cannabis—nothing may illustrate the through the looking glass legislative machinations that have slowed reform progress more than the No Deductions for Marijuana Businesses Act whose bill sponsors wrote to Treasury officials this month following recent federal changes to the classification of marijuana.
First, the legislation does exactly what its name suggests: it preserves and reinforces the federal tax penalty under Section 280E, which prevents state-legal cannabis businesses from taking ordinary business deductions.
Of course, Republicans have long run
Read full article on Marijuana Moment
