Congress at long last seems set to take decisive action on legislation affecting the U.S. cannabis industry.
But instead of legalizing interstate commerce, offering banking protections or 280E tax relief, federal lawmakers on both sides of the partisan divide want to eliminate the protections for hemp-derived THC that were accidentally created by the 2018 Farm Bill.
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That’s the conclusion hemp lobbyists and industry observers are drawing from the Republican budget proposal – introduced in the House last week and quickly passed by an initial subcommittee – that would ban hemp-derived THC products under federal law.
Whether or not that draconian ban passes, the proposal alone is the latest confirmation that there’s a growing sense among operators in the space that the “good old
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