UNITED STATES CANNABIS NEWS Cannabis News · November 7, 2023 The trajectory of President Joe Biden‘s public career could be on the brink of yet another turn.
A mere twelve months ago, Biden initiated the most momentous shift in U.S. federal cannabis policy since the Controlled Substances Act of 1970. The very figure who, as a U.S. senator, was instrumental in intensifying the war on drugs, has as president positioned the building blocks for a robust, enduring legal cannabis market.
The Beginning
Anticipation for drug reform under a Biden administration was initially minimal.
Famed for his stringent law-and-order stance, Senator Biden faced mockery during the 2020 presidential race for his perceived intransigence towards evolving perspectives on drug consumption.
However, his admission in October 2022, deeming half a century of cannabis prohibition a “failed approach,” became the most reform-friendly declaration by an incumbent president.
With an executive directive, Biden charged federal health authorities to promptly reassess marijuana regulations. This culminated in an August 29 proposition from the U.S. Department of Health and Human Services (HHS) advocating for cannabis to be reclassified as a Schedule 3 substance, a groundbreaking acknowledgment of its medical utility by the federal government.
Legal connoisseurs argue that the U.S. Drug Enforcement Administration (DEA) is bound to implement the recommendation, significantly easing the tax burdens under Section 280E of the IRS code for cannabis enterprises.
Given the speed with which this recommendation emerged post-review, it signals the administration’s earnest approach to drug-policy reform.
Should Biden secure a second term, the pathway might lead towards national cannabis commerce and outright legalization, some analysts speculate.
Current Progress
By mid-October, the DEA was deliberating over the HHS proposition, the penultimate step before a potential amendment to federal legislation.
But this stage now appears to be procedural.
The DEA’s historical track record of not opposing health regulators on scientific and medical assessments — a point underscored by the Congressional Research Service — suggests imminent agreement and a proposed regulatory alteration, potentially by year-end, forecasts Howard Sklamberg, ex-FDA official and current partner at Arnold & Porter law firm in Washington, DC.
For Biden, the sponsor and advocate of the infamous 1994 crime bill, this could mean a reelection campaign enriched with unparalleled efforts to legalize marijuana, potentially swaying key votes in cannabis-positive swing states.
“Biden was once no ally to cannabis,” notes Aaron Miles, chief investment officer of Verano Holdings Corp. “Yet, his administration’s recognition of marijuana as medicine is nothing short of monumental.”
The Future Path
While there are past instances of drug reclassification and deregulation, marijuana’s impending reclassification presents an uncharted scenario, agree experts.
Following the DEA’s policy review and international treaty considerations, the agency will initiate a federal rulemaking procedure. Post a public commentary period, the final ruling could emerge swiftly, potentially activating reclassification by next spring.
The DEA cannot overrule the HHS recommendation — that’s a legal given.
Expect legal challenges from opponents and proponents alike, possibly escalating to the U.S. Supreme Court, where Justice Clarence Thomas’ recent remarks hint at a potential landmark ruling.
Rescheduling signifies that tax reform, long championed by the industry, is within reach.
Unresolved Matters
Despite the progress, rescheduling is not tantamount to legalization.
Moving cannabis to Schedule 3, which allows for medical prescriptions of certain controlled drugs, poses novel challenges for a sector accustomed to independent operations from traditional medical channels.
Moreover, Biden’s potential reelection loss could usher in a new administration with differing marijuana policies.
Nonetheless, most industry players responded to the rescheduling news with renewed hope.
Ultimately, the drive for reform has intensified, and while comprehensive legislative changes like the SAFE Banking Act linger, their fruition is more likely with marijuana removed from Schedule 1.
In conclusion, while complex and multifaceted, these steps represent significant strides in cannabis policy reform.
https://www.cannabisnews.org/united-states-cannabis-news/from-relentless-prohibitionist-to-cannabis-reform-champion-president-bidens-transformation/