Sen. John Fetterman (D-PA), one of the most vociferous cannabis supporters among U.S. senators, recently said he was honored to vote for the SAFER Banking Act.
Commenting on recent Ohio’s cannabis legalization, Fetterman told City & State in an exclusive interview that “it’s absolutely absurd – how many states around Pennsylvania are we failing behind?”
“It just makes it more silly. It’s just so simple and so easy – just give people what they want,” he said. “And again, make it safe, make it pure and make jobs. All the benefits are going to the cartels, but now, it should be going to the state.”
Fetterman said though he doesn’t consume cannabis he believes sales should be allowed and taxed, just like alcohol. “I don’t remember the last time I even drank hard alcohol, but you should be able to buy it because we all realize what bathtub gin does to people. There are things that are so much more lethal and dangerous and addictive – you don’t have any of those issues with cannabis.”
The senator undertook expungement of minor drug charges, saying no one’s life should be ruined “because they had some stupid, silly weed charge.” As lieutenant governor and head of the pardoning process, “we got that process started. It’s always astonishing when you have people in front of you who can’t be a volunteer at their child’s school, can’t get a better job, can’t get a loan because 12 years ago they got caught with a joint.”
Fetterman said that because cannabis is illegal its value is distorted and is often the cause of violence and robberies.
No-Brainer
“There’s no medically documented THC overdose, and marijuana is not lethal at all. It’s a no-brainer,” he said.
He called President Joe Biden a man of his word because, on the first anniversary, he recommended marijuana de-scheduling. Furthermore, he added that it’s “always Republicans going against something that should be common sense and that a majority of people really want, whether it’s abortion or weed,” and that legalization is inevitable.
#IntheWeedswithSteve
Be patient Florida, this too, shall pass! Steven M Smith InspirationalTech.org CEO since 2013.
Despite the incessant nitpicking on the part of Ohio’s Republican leadership, which is seeking changes to the Nov. 7 voter-approved initiative that legalized adult-use cannabis, one Cleveland representative has stepped up to question what many are calling anti-democratic procedures.
Republican Governor Mike DeWine and Ohio Senate president Matt Huffman are seeking, among other changes, to redirect the usage of the hundreds of millions likely to be raised by excise taxes. One example that is raising the most dissent is the Republicans ‘ insistence on utilizing cannabis revenue for law enforcement rather than the agreed-upon social equity program and community reinvestment that earmarked tax dollars to support individuals who have been “disproportionately affected by past marijuana-related law enforcement.”
Enter Juanita Brent
Ohio Rep. Juanita Brent (D-Cleve) underscored the importance of having people who were directly impacted by cannabis prohibition participate in the legal marketplace and have seats at the table, as the Republican leadership moves ahead with its changes.
“If you’ve been criminalized by cannabis, the best thing you can do is come back into the field,” Brent told The Statehouse News Bureau.
Brent also pointed out that it is equally important that those involved in amending the initiative, known as Issue 2, are not outright anti-cannabis crusaders, which alas seems to be the case in Ohio.
Why Are Prohibitionists Making These Decisions?
“Ohioans have to remember that the people who are trying to be the loudest at the [statehouse] are people who were anti-cannabis,” Brent said. “We cannot have anti-cannabis people leading on what’s going to happen with cannabis. We need people who are involved. We need people who have been doing the work. We need people who have been advocating.”
Social equity provisions, by the way, are built into every legal marijuana program across the U.S. as a way to deal with well-documented racial disparities in marijuana arrests.
“We need to build more cultivators because there is going to be a lot of demand. We can have dispensaries that we want in the state, but if we don’t have cultivators there will be an increase in price,” she said.
GOP Lawmakers Running Out the Clock Before Dec. 7 Deadline
Republican lawmakers have said they are planning to publicize their policy changes to Issue 2, Huffman said last week, although he did not give details on the exact proposals or a timeline.
Huffman famously implied last week that Ohioans had not understood that the social equity elements in the new legalization law were prioritizing people affected by past cannabis-related enforcement.
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#IntheWeedswithSteve
Be patient Florida, this too, shall pass! Steven M Smith InspirationalTech.org CEO since 2013.
Federal authorities are weighing whether to stop classifying marijuana among the riskiest drugs, a move that cannabis advocates have long hoped would result in more research on its health effects, businesses having an easier time selling it and fewer people going to jail.
But experts warn the August recommendation by the Department of Health and Human Services to strip marijuana’s designation as a Schedule I drug may not fulfill those hopes.
The proposal before the Drug Enforcement Administration to reclassify marijuana as a Schedule III substance — in the same category as prescription drugs such as anabolic steroids, ketamine and testosterone — would free marijuana from some of the restrictions that apply to Schedule 1 drugs such as heroin and LSD. A decision is expected in coming months.
While marijuana advocates have cast the proposal as a step forward, some contend it doesn’t go far enough and would like to see the drug removed from the schedule system entirely, treated like tobacco and alcohol, and eventually legalized at the federal level.
Rescheduling marijuana would amount to a symbolic win in the quest to normalize the drug.
“A recognition from the federal government after all these years that marijuana is safe and effective as a therapeutic agent for patients is significant because obviously that would be a reversal of a very long-standing and very public position,” said Paul Armentano, deputy director of the National Organization for the Reform of Marijuana Laws (NORML), an advocacy group. “When it comes to the practical elements, I don’t think anyone knows because we have never gone down this road before.”
Marijuana legalization faces tough odds in holdout red states despite Ohio win.
The implications are mired in legal complications, especially because cannabis is caught in a convoluted system for regulating the drug across different levels of government as both medicinal and intoxicating. Here’s a rundown of what we know about rescheduling and the concerns swirling around different aspects of marijuana reform.
What does drug scheduling mean?
The Controlled Substances Act regulates drugs and categorizes them into one of five “schedules” depending on their medical benefits and potential for abuse.
The schedules aren’t a ranking of how bad the drugs are for you or society, but instead are a guide for how limited access to the drug should be for doctors, pharmacists and patients. (For example, LSD, which rarely kills users, is scheduled higher than opioid painkillers, which causes tens of thousands of fatal overdoses, because painkillers are routinely used in treating patients.)
Marijuana’s designation as a Schedule I substance means the federal government thinks there is no accepted medical use and a high potential for abuse. Federal law prohibits the cultivation and possession of Schedule I drugs, except for approved research studies.
Possible easing of marijuana restrictions could have major implications.
A Schedule III designation under consideration for marijuana means the drug has moderate to low potential for physical and psychological dependence. Federal health officials have declined to answer questions about how they have assessed marijuana’s potential for abuse and dependence.
Here’s where things get really tricky: Federal officials have previously said they are obligated to classify marijuana as a Schedule I or II substance under an international treaty to fight drug trafficking by tightly controlling narcotics. That’s one of the issues the DEA would have to sort out before deciding whether to reschedule the drug.
Effects on health research
All controlled substances come with restrictions on research, but marijuana and other Schedule I substances have the toughest requirements. Experts say it’s imperative to conduct more research on marijuana to understand its benefits and risks as legal markets flourish and consumer use soars.
To gain access to pot, researchers need to register with the DEA under rules that would not apply if they studied Schedule II substances like cocaine and fentanyl. They must submit research protocols to the DEA that need to be reviewed by the Food and Drug Administration. And they must meet stringent requirements for drug storage in electronic safes or vaults that some researchers say are too expensive and burdensome to follow.
“It’s incredibly excessive and totally unnecessary,” said Ryan Vandrey, a cannabis researcher at Johns Hopkins Medicine. “I can run an entire study with an amount of cannabis that’s less than $100 in street value and bought by an adult in the state of Maryland at any of the different dispensaries.”
Researchers have to obtain marijuana from growers that follow federal restrictions. But they say such restrictions on growing marijuana for studies make it harder to examine the effects of high potency products and other forms of cannabis now popular among consumers.
Marijuana addiction is real. Those struggling often face skepticism.
Some researchers have found ways to get around these rules, but their studies have limitations.
For example, Washington State University researchers studying the cognitive effects of cannabis had to use Zoom to observe participants who just used marijuana they bought at dispensaries. The ideal study would involve researchers providing high-potency cannabis from dispensaries, including a placebo to a control group, and participants coming to a lab to provide blood samples and record physiological data points such as heart rate variability and cortisol levels that cannot be measured over Zoom.
The university risks losing federal funding if researchers administer cannabis themselves even though marijuana is legal in Washington, said Carrie Cuttler, an associate professor of psychology who directs The Health & Cognition (THC) Lab at Washington State.
“It’s absurd, absolutely absurd,” she said, “to treat cannabis as pretty much the most dangerous narcotic available in the world.”
Despite these restrictions, there is still plenty of research done on marijuana without ever handling the physical drug.
And experts caution there would still be hurdles in conducting the kind of research that’s now off-limits even if marijuana is reclassified as a Schedule III substance. That’s because the drug would still be treated as a therapeutic rather than an increasingly popular recreational product. It would still be difficult to study all the new marijuana products flooding the market, particularly edibles, vape cartridges and highly concentrated forms such as waxes and shatter.
Kevin Sabet, president of Smart Approaches to Marijuana, which opposes marijuana legalization, said his organization has proposed creating a new schedule category that would relax research restrictions on marijuana while maintaining other restrictions from its Schedule I status.
Unclear future for the cannabis industry
One of the toughest questions to answer about rescheduling is what it would do to the thousands of marijuana companies operating in a legal gray zone.
It is expected they would be able to deduct business expenses from their tax obligations for the first time, boosting their bottom lines. Beyond that, it gets complicated.
Industry advocates hope rescheduling might encourage more banks to work with marijuana companies, but a bill in Congress to shield fnancial institutions from punishment is the more direct path for achieving that goal.
There is no precedent for reclassifying a drug that is legal in states, and the booming marijuana industry, and its broad network of direct-to-consumer sales, is nothing like the markets for other Schedule III drugs such as ketamine and testosterone, which require a prescription.
In some ways, the status quo of treating marijuana as one of the riskiest drugs may actually be better for business.
Because marijuana is a Schedule I substance, the FDA has punted to the DEA to regulate it, and the DEA is not in the business of overseeing industries and markets.
A group of marijuana organizations raised concerns that treating marijuana as a Schedule III substance meant for medicinal purposes could upend the industry. They fear the FDA would prohibit recreational marijuana and hold therapeutic products to the high bar needed to sell medicine — requirements only large pharmaceutical companies may realistically be able to overcome — but leading experts dismiss that concern as unfounded.
Some experts argue that it is unlikely the FDA will suddenly crack down on marijuana after taking a largely hands-off approach for years, given the disruption it would cause and the resources it would take. Advocates counter that there’s no guarantee the winds won’t shift — for example, if Florida’s Republican governor, Ron DeSantis, wins the presidency after railing against marijuana.
“There is no way anyone could know or predict in our current political climate what the risk of FDA enforcement is,” said Shaleen Title, a former Massachusetts marijuana regulator who runs a cannabis think tank. “What I worry about is by trying to relax marijuana laws, we would inadvertently end up in a situation where we would be criminalizing existing state operators in a new way.”
Limited impact on federal pot prosecutions
Marijuana is illegal at the federal level regardless of how it’s classified, and rescheduling alone would not change penalties for major federal marijuana cases.
Possession of Schedule I substances is a federal crime, but few people go to federal prison just for having marijuana. Federal marijuana trafficking charges have plunged 90 percent in a decade as authorities make fentanyl their top priority. Under federal law, rescheduling would not affect penalties for trafficking convictions, said Shane Pennington, a D.C. attorney who specializes in cannabis law.
“It’s going to be a lot less of a boon for criminal justice reform than people think,” Pennington said.
Marijuana prosecutions tend to happen in state courts, and there were at least 209,000 arrests for possession last year, according to FBI statistics.
Along the Interstate 40 corridor that cuts across the Texas Panhandle between New Mexico and Oklahoma, local police officers routinely arrest motorists transporting marijuana loads from illegal grow operations in California, said Texas defense attorney Adam Tisdale, who specializes in marijuana cases. The loads are typically headed to Florida, and the drivers are charged in state court with possession of marijuana, which becomes a felony depending on the weight of the marijuana. Tisdale predicts local officers won’t stop making those arrests, which usually result in hefty fines, not jail time.
President Biden grants mass pardons for those convicted of simple marijuana possession.
“It won’t make any difference in my neck of the woods,” Tisdale said of rescheduling.
Proponents of rescheduling, such as the U.S. Cannabis Council, say it would send a powerful signal to law enforcement agencies that marijuana cases should be a low priority.
Critics, including the former DEA and White House officials who signed a letter organized by the anti-marijuana organization Smart Approaches to Marijuana, argue that rescheduling removes a “key tool” that federal agents have in prosecuting cartels.
Experts are split on what impact rescheduling would have on the nation’s criminal justice systems, which for decades have punitively targeted people — particularly Black and Latino people — for possessing or trafficking in a drug that is now legal for recreational use in 23 states. The Minority Cannabis Business Association and other advocates for racial equity in marijuana policy contend rescheduling alone continues the war on drugs.
“I don’t know if it’s worth the trade-off to be stuck in this murky middle,” said Kaliko Castille, board president of the Minority Cannabis Business Association. “You are still going to have business owners making millions of dollars and others in prison for a plant.”
Congress took steps this week to avert a year-end cliff for key farm and food assistance programs as lawmakers have struggled to reauthorize a new farm bill this year.
Here’s what that means for Iowa farmers. And a look ahead to O HI O.
The U.S. House voted Tuesday to extend the current farm bill for one year while negotiations continue on a new farm bill.
House lawmakers passed a short-term funding bill to keep the federal government operating and avert a shutdown, sending the bill to the Senate days before a Friday deadline. The Senate as expected quickly approved the bill, which would allow President Biden to sign it into law before the deadline.
The legislation extends funding for the U.S. Department of Agriculture at current spending levels until Jan. 19 and extends all programs at levels provided in the 2018 Farm Bill through Sept. 30, 2024.
It provides funding for a handful of small-ticket programs that were orphaned at the end of fiscal year 2023, including feral swine eradication, urban agriculture and a reserve fund for overseas food aid. The outlays would be offset by rescinding $177 million in unobligated funds in the Biorefinery Assistance Program and savings in USDA internal operations.
Without an extension, farmers would see commodity policies revert to permanent law with controls on production and costly price supports adopted in the 1930s and 1940s.
Under the House-passed stopgap spending bill, dairy subsidies would be extended through Dec. 31, 2024, to avert the looming “dairy cliff” on Jan. 1, when the government-guaranteed price of fresh milk would more than double, potentially driving up grocery-store prices.
Iowans in Congress want new Farm Bill passed.
While good news for farmers, Iowa Republican U.S. Sen. Chuck Grassley and U.S. Rep. Ashley Hinson, of Marion, said the extension is not a substitute for a reauthorization.
“There was no way I would have let the Farm Bill expire, and I’ve already urged Speaker Johnson to put passing a strong Farm Bill at the top of our priority list,” Hinson said in a statement to The Gazette.
She said she’ll continue working with her colleagues to strengthen voluntary conservation programs, lower input costs, provide regulatory certainty, and ensure an affordable food and fuel supply for Iowans.
“I’ll continue working to ensure the final legislation strengthens risk management tools like crop insurance, preserves and expands market access for ag products, promotes precision ag and other farmer-led conservation, and modernizes USDA conservation programs to improve resiliency against flooding and drought,” she said.
Iowa Republican U.S. Rep. Mariannette Miller-Meeks, of Ottumwa, said in a statement to The Gazette that it is “essential that the House move forward and swiftly pass a Farm Bill that is written by and for our farmers.”
“As Iowa leads the United States in corn and ethanol production, it is vital that we advocate for provisions to grow the industry,” Miller-Meeks said. “We must also work to safeguard commodity and conservation programs, rural broadband funding, and crop insurance initiatives.”
Grassley, speaking to reporters by phone Wednesday, said the House bill has a good chance to passing the Senate.
“The extension will provide certainty, but just for one year, and that’s obviously not as good as if we got a five-year program through,” he said.
Grassley added program pricing that provides financial protections to farmers from substantial drops in crop prices included in the 2018 Farm Bill do not reflect increased input costs for fertilizer, chemicals, seed and fuel.
The sprawling legislative package that’s reauthorized every five years supports several key farm and safety net programs, like crop insurance, as well as agriculture research, rural development, conservation, SNAP benefits — once called food stamps — and more.
Uncertainty lingers.
Chad Hart, an economist and crop markets specialist for Iowa State University Extension and Outreach, said passage of the House bill provides farmers with some certainty about whether key farm commodity support will continue.
Hart noted some mandatory expenditures and others marked as discretionary that fund food assistance programs could go forward, but that funding for food assistance for women and children who rely on the Special Supplemental Nutrition Program for Women, Infants, and Children — commonly called WIC — would run out and cease operations if a shutdown runs long enough.
“There’s not been a lot of forward-thinking discussion of what changes might be made in either existing programs or new programs created in the next Farm Bill, “Hart said.
” This buys them another year to basically have that discussion. … Income support programs will be in effect for the 2024 crop year. Before the extension, those programs stopped with 2023. But will the government be able to run the programs and cut the checks? “
Tom Barton
Nearly all eligible workers at the Columbus-based Strawberry Fields dispensary have voted to join Teamsters Local 413, becoming the first in Ohio to affiliate with the union.
The move comes several weeks after Ohioans approved an initiative to legalize adult-use cannabis Nov. 7.
“This is the first of many proprietors we will be organizing now in Ohio, especially now that recreational cannabis is legal,” said Tony Jones, Teamsters International VP at large and president of Local 413.
“These workers are an amazing group of people who stood strong in spite of the company running a nasty anti-union campaign. I have no doubt that the tenacity, bravery, and solidarity they demonstrated during the lead-up to the election will serve them well when we start negotiations.”
Union organizing is going on while Ohio’s now legal cannabis program is under attack by the Republican-dominated state House and Senate. Gov. Mike DeWine (R) and Senate leader Matt Huffman (R) are chipping away at the initiative in an effort to revise it before cannabis possession and cultivation become legal Dec. 7, when the initiative led by the Coalition To Regulate Marijuana Like Alcohol goes into effect.
“The success of our latest organizing effort is a clear message to the Ohio cannabis industry: workers demand and deserve respect,” said Peter Finn, Teamsters Western Region International VP and Food Processing Division Director.
“This is just the beginning. We’re on a mission to transform this industry one contract at a time, with sustainable, middle-class careers.”
Strawberry Fields Budtenders Weigh In: “This is a huge moment for the Teamsters, Ohio, the labor movement, the cannabis community, and especially us,” said budtender Estlin Hiller. “By unanimous decision, after months of hard work by everyone involved, we won. We are ecstatic about this outcome, immensely proud of one another, and looking forward to bargaining our first contract. Strawberry Fields united, solidarity forever.”
Nearly all eligible workers at the Columbus-based Strawberry Fields dispensary have voted to join Teamsters Local 413, becoming the first in Ohio to affiliate with the union.
The move comes several weeks after Ohioans approved an initiative to legalize adult-use cannabis November 7th, 2023.
“This is the first of many proprietors we will be organizing now in Ohio, especially now that recreational cannabis is legal,” said Tony Jones, Teamsters International VP at large and president of Local 413.
“These workers are an amazing group of people who stood strong in spite of the company running a nasty anti-union campaign. I have no doubt that the tenacity, bravery, and solidarity they demonstrated during the lead-up to the election will serve them well when we start negotiations.”
Union organizing is going on while Ohio’s now legal cannabis program is under attack by the Republican-dominated state House and Senate. Gov. Mike DeWine (R) and Senate leader Matt Huffman (R) are chipping away at the initiative in an effort to revise it before cannabis possession and cultivation become legal Dec. 7, when the initiative led by the Coalition to Regulate Marijuana Like Alcohol goes into effect.
“The success of our latest organizing effort is a clear message to the Ohio cannabis industry: workers demand and deserve respect,” said Peter Finn, Teamsters Western Region International VP and Food Processing Division Director.
“This is just the beginning. We’re on a mission to transform this industry one contract at a time, with sustainable, middle-class careers.” O HIGH O Budtenders Weigh In: “This is a huge moment for the Teamsters, Ohio, the labor movement, the cannabis community, and especially us,” said budtender Estlin Hiller. “By unanimous decision, after months of hard work by everyone involved, we won. We are ecstatic about this outcome, immensely proud of one another, and looking forward to bargaining our first contract. Strawberry Fields united, solidarity forever.”
Story by Gazette
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Be patient Florida, this too, shall pass! Steven M Smith InspirationalTech.org CEO since 2013.
Ohio certainly wasn’t the first state to legalize recreational cannabis — 23 other states have done so since 2012 — but the Buckeye State’s arrival on that list could ultimately be quite consequential for the growing industry.
Ohio voters’ approval of a legalization measure on Tuesday comes just months after cannabis saw some of its most significant movements at the federal level. In late August, a US Department of Health and Human Services official recommended that marijuana be reclassified as a Schedule III drug. One month later, a cannabis banking bill passed a key Senate committee.
A conservative and politically influential state such as Ohio legalizing marijuana should be the straw that breaks the proverbial camel’s back in terms of bringing federal regulation to cannabis, said Andrew Freedman, a partner at Forbes Tate and executive director of the Coalition for Cannabis Policy, Education and Regulation. “As Ohio goes, so goes the nation,” he said.
“It’s not the reddest [state] — the reddest was Missouri — but it is historically important, nationally important, presidentially important,” Freedman told CNN. “I honestly think it will have massive reverberating effects on what Congress has to do about this.”
More than two-thirds of US states have legalized cannabis in some capacity: 38 states have approved comprehensive medical cannabis programs, and Ohio brings the recreational total to 24 states.
And support for legalization continues to grow. A record 70% of US adults surveyed by pollster Gallup said that cannabis use should be legal, according to a new poll released Wednesday.
Still, cannabis remains federally illegal, and marijuana is classified as a Schedule I substance, the harshest of all drug classifications.
“A ‘no’ vote does send a signal across the nation that this is a major, middle-of-the-road/leaning-right part of this country that is saying, ‘Not too fast,’ and yet it passed by an overwhelming margin,” Freedman said. “I do think that it is a very clear message to the federal government that prohibition is no longer the law of the land, even though it remains on the books.”
For Ohio regulators, legislators and business operators, now comes the hard part.
More work to come
The voter-approved recreational measure approved this week is far afield from early legalization efforts in the state. In 2015, residents overwhelmingly voted against a medical and adult-use measure that would have limited growing and sales to 10 properties, all of which were owned by an investor group that included the 98 Degrees boy-bander Nick Lachey.
The law allows for adults over the age of 21 to buy and possess up to 2.5 ounces of cannabis and grow some plants at home for personal use. Legal sales will be subject to a 10% excise tax, as well as other local and state taxes, and those proceeds will go toward communities with dispensaries, programs such as small and minority business development, and addiction treatment.
Existing medical cannabis dispensaries will have the opportunity to be grandfathered in and have first crack at licenses, but municipalities can decide whether to allow sales.
Since it’s a citizen-initiated measure and not a constitutional amendment, it could be modified or repealed in the Republican-controlled state legislature. Some lawmakers and Republican Governor Mike DeWine have opposed legalization.
But Freedman said: “I think the legislature needs to be careful, because it passed with large amounts of support (57% of voters approved), and generally, you should respect the will of the voters. But if there are parts of the bill that would create a lack of accountability, then those should be shored up.”
“For the most part, I think that they should have the nuts and bolts of a system that can have good inventory control, take bad actors out of the market and make sure that sales will stay internal to Ohio,” he said.
Some legislators may try to “slow walk” implementation or try to scuttle it; however, others who see it as a potential economic development boon may try to push it forward, said Douglas Berman, executive director of the Drug Enforcement and Policy Center at The Ohio State University’s Moritz College of Law.
“That’s the to-be-determined on implementation, and of course this has been the story state by state nationwide,” he said. “Every state has had its own uncertainty for rollout. And given the fact that Ohio’s the 24th state is likely to help this go a little bit smoother.”
Industry woes
If all goes smoothly, Ohio’s recreational program could get up and running relatively quickly.
The law goes into effect on December 7; state regulators have to issue licenses to existing medical cannabis applicants within nine months and additional licenses to other applicants within two years.
“I certainly think, perhaps to the chagrin of some longtime Buckeyes, that it would be fair to say this is kind of a Michigan model that Ohio has adopted through this initiative,” Berman said. “In 2018, Michigan fully legalized cannabis, set a relatively low tax rate and my perception is it’s been a fairly successful industry there.”
It’s “pretty universally held at this point in time that this industry is not doing well,” said Irina Dashevsky, partner and co-chair of the cannabis law practice group at Greenspoon Marder.
Companies are struggling because of the federal state disconnect that’s resulted in cannabis firms facing extremely onerous tax burdens, the inability to conduct interstate commerce, and lack of access to the full financial system the United States has to offer, she said. Additionally, some states have seen the number of operators — regulated and illicit — swell, resulting in a glut of cannabis product and, thus, plunging prices.
Investors have recoiled, and companies have had to turn to debt-based funding, but that’s expensive because cannabis companies can’t avail themselves of traditional financial services and bank loans, she said.
The Secure and Fair Enforcement Regulation (SAFER) Banking Act, which passed a key Senate committee, could allow cannabis businesses greater access to banks — but it does not solve all the issues the industry faces, Dashevsky said.
“There is this confluence of things that really lead me to believe that change of the federal level is on the forefront, but we’ve been there before and it hasn’t crossed the finish line for weird, outside reasons,” she said. “It should be regulated; no one’s saying it should be a free-for-all, but the people in the US want it legalized, and so for the federal government not to catch up after a decade? I think it’s definitely time, and Ohio is a huge indicator of that.”
Opportunities for expansion
Adult-use sales in Ohio could total an estimated $1.5 billion to $2 billion in the first year after market-launch, and $3.5 billion to $4 billion by the fourth year, according to industry publication MJBizDaily.
In five years of operation, Ohio could see between $276 million and $403 million in annual tax revenue, according to Drug Enforcement and Policy Center research. That’s a drop in the bucket of the overall state budget, which for fiscal year 2023 stood at $81.1 billion.
Harvest of OH, which opened medical cannabis dispensaries in 2021, is one of the Ohio firms gearing up for a major expansion to respond to what could be an “onslaught” of recreational sales, said Ariane Kirkpatrick, founder and majority owner.
Harvest will have the opportunity to receive three additional licenses at the recreational level and has already received approval for the expansion of its cultivation footprint.
“It’s all sort of new, it’s all up in the air right now, but we’re pretty adaptable,” Kirkpatrick said, noting the company’s team, processes and logistics that are already in place.
Harvest of OH also has the potential to help drive the industry forward by making it more inclusive, said Amonica Davis, the company’s chief operating officer.
“In the state of Ohio, with dispensaries, cultivators and processors, there are already over 150 operators and just a handful of us are Black,” she said. “And so we have a commitment, and we are very intentional in creating our workforce that is very highly concentrated with women at the executive level, over 50% of our employees are people of color, and much of our supply chain comes from partners who are traditionally underrepresented in this space.”
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Ohio voters have approved a ballot measure to legalize recreational marijuana, making it the 24th state to embrace legalization in a push that’s expanding into more conservative parts of the country.
The “yes” vote on Issue 2 means people age 21 and over in the state will be able to use, grow or sell marijuana under a regulation-and-tax program imposed by the state.The measure takes effect in 30 days. Supporters of the measure campaigned on the premise of regulating marijuana “like alcohol.”
Inspirational Technologies is a company that offers hemp and cannabis products and education in Florida, where medical marijuana is legal but recreational marijuana is not. The company’s CEO, Steven Smith, is a vocal advocate for legalizing cannabis and hemp, and has been involved in various campaigns and initiatives to promote the benefits of the plant. He has also written several articles and blogs on the topic, such as “The Future of Cannabis in Florida” and “Hemp: The Next Big Thing in Florida Agriculture”.
Mr. Steven Smith has praised the Ohio legalization as a historic moment and a victory for the cannabis industry and consumers. He has also urged Florida voters to support a similar measure in the 2024 election, saying that it will create jobs, generate revenue, reduce crime and improve public health.
We, at Inspirational Technologies are at the forefront of Inspirational and Frontrunners on the frontier of current technology.
We are often faced with our own personal conflicts which directly influence our interactions with our peers and family.
When Inspirational Technologies is an endorsement of the “Cannabis” approach to the medical condition, we say, let’s let the look at the data and the people who say that they benefit for cannabis alternatives.
Beginning in Late November 2023 Inspirational Technologies will promote the long-awaited series, “In the Weeds with Steve “. An Inspirational Technologies production under their own “Background Noise Productions Studios.
1st Hemp USA News is a resource of Inspirational Technologies (2021-2023)Inspirational Technologies (2023) AllRightsReservedYour ONE STOP BLOG FOR INFORMATION, EDUCATION, & INSPIRATION OF ESSENTIAL INNOVATION & RENOVATION of You-THANK YOU FOR YOUR INTEREST*This site receives virtually no compensation for sales of some or all mentioned products. We however place humanitarian value over monetary interests. Our monetary income goes back into research, development, discovery and healing.Inspirational Technologies – is Committed to Your Health Wellness Beauty and EnrichmentReporting on Today’s Internal Botanical and Skin Product Benefits
4 Hemp Club was Inspired by Steven Smith’s vision to “Have an older generation 4H Club, where an older community of adults could carry on what the younger 4H Club envisioned.
Our 4H Platform Uses HEMP as an Agricultural Focal Point, deserving of research, development and with the
4 Hemp key points being Health Hope and Happiness, thru Hemp“.
Cannabis CBD and Me Inspirational Technologies Inspirational Technologies (2014) @Inspire123tech Background Noise Studios Logos bySteven M Smith
