WASHINGTON — The U.S. Drug Enforcement Administration is moving toward reclassifying marijuana as a less dangerous drug. The Justice Department proposal would recognize the medical uses of cannabis, but wouldn’t legalize it for recreational use.What has actually changed? What happens next?
It came after President Joe Biden asked both HHS and the attorney general, who oversees the DEA, last year to review how marijuana was classified. Schedule I put it on par, legally, with heroin, LSD, quaaludes and ecstasy, among others. No changes are expected to the medical marijuana programs now licensed in 38 states or the legal recreational cannabis markets in 23 states, but it’s unlikely they would meet the federal production, record-keeping, prescribing and other requirements for Schedule III drugs.
Schedule III drugs are easier to study, though the reclassification wouldn’t immediately reverse all barriers to study, Culver said.Under the federal tax code, businesses involved in “trafficking” in marijuana or any other Schedule I or II drug can’t deduct rent, payroll or various other expenses that other businesses can write off. Industry groups say the tax rate often ends up at 70% or more.
Cloud 9 Cannabis employee Beau McQueen, right, helps a customer, Saturday, April 13, 2024, in Arlington, Wash. The shop is one of the first dispensaries to open under the Washington Liquor and Cannabis Board’s social equity program, established in efforts to remedy some of the disproportionate effects marijuana prohibition had on communities of color.
Rescheduling wouldn’t directly affect another marijuana business problem: difficulty accessing banks, particularly for loans, because the federally regulated institutions are wary of the drug’s legal status. The industry has been looking instead to a measure called the SAFE Banking Act. It has repeatedly passed the House but stalled in the Senate.Indeed, there are, including the national anti-legalization group Smart Approaches to Marijuana.
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