The cannabis industry has been on the rise in recent years, with more and more states legalizing its use for both medicinal and recreational purposes. And with the current administration in power, many in the industry are hopeful that their efforts will pay off in a big way.
It’s no secret that the cannabis industry has faced numerous challenges and setbacks in the past. Despite the growing acceptance and legalization of the plant, it still remains illegal at the federal level, making it difficult for businesses to operate and thrive. But with the current administration, there seems to be a glimmer of hope for the industry.
One of the most significant moves made by the current administration was the appointment of Kamala Harris as the Vice President. Harris has been a vocal supporter of cannabis legalization and has even co-sponsored a bill to legalize it at the federal level. This has given many in the industry a sense of optimism and hope for the future.
In addition to Harris, the current administration has also appointed several other key figures who are known to be supportive of the cannabis industry. This includes Secretary of Health and Human Services, Xavier Becerra, who has a history of supporting cannabis legalization and has even co-authored a bill to legalize it at the federal level. With these key figures in positions of power, the industry is hopeful that their voices will be heard and their needs will be addressed.
But it’s not just about the appointments; the current administration has also taken concrete steps to support the cannabis industry. In March 2021, the Small Business Administration announced that cannabis businesses would be eligible for COVID-19 relief funds, a significant move that was welcomed by the industry. This shows a willingness to support and recognize the legitimacy of the industry, which was previously denied access to federal aid due to its illegal status.
Furthermore, the current administration has expressed its support for criminal justice reform, particularly when it comes to non-violent drug offenses. This is a crucial issue for the cannabis industry, as many individuals have been disproportionately affected by the war on drugs, which has targeted communities of color. With the current administration’s focus on social justice and equity, there is hope that these injustices will be addressed and rectified.
The cannabis industry has also seen a surge in investments and partnerships in recent months, which can be attributed to the current administration’s stance on the plant. This includes a $50 million investment by the cannabis company, Curaleaf, to support social equity programs and a partnership between the cannabis company, Acreage Holdings, and the iconic rapper, Jay-Z, to promote social justice and equity in the industry. These partnerships not only showcase the potential for growth and success in the industry but also highlight the importance of social responsibility.
But perhaps the most significant development for the cannabis industry under the current administration is the reintroduction of the MORE Act. This bill, which was initially introduced in 2019, aims to decriminalize and deschedule cannabis at the federal level, as well as address social justice issues and provide opportunities for those disproportionately affected by the war on drugs. With the current administration’s support, there is hope that this bill will finally pass and bring about much-needed change for the industry.
Of course, there are still challenges and obstacles that the cannabis industry will have to overcome. The federal government’s stance on cannabis is still unclear, and there is no guarantee that the MORE Act will pass. However, the current administration’s support and actions have given the industry a sense of hope and optimism for the future.
The cannabis industry is not just about getting high; it’s about creating jobs, boosting the economy, and providing access to a natural and alternative form of medicine. With the current administration’s support, the industry has the potential to thrive and make a positive impact on society. Fingers are crossed that the efforts made by the industry and the current administration will pay off, and we will see a brighter and more inclusive future for the cannabis industry.
