The marijuana industry expects positive signals from candidates
Cannabis has suffered over the last two years…but do presidential candidates really care?
The last two years have been brutal for the cannabis industry. Consumer usage continues to increase, but the cost of doing business outpaces profits. Since they are mostly small business owners who are just family members, it has become increasingly difficult as more and more people consume. But do any of the political parties care and what will they actually do? The marijuana industry expects positive signals and more than just statements from the candidates, it wants solid policies.
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Legal states have benefited from the safe availability of the facility. Increased tax revenues, a decline in youth use, and variable options for medical marijuana patients due to opioid addiction. But the companies themselves are struggling with high taxes, a lack of tax benefits, rising crime and massive federal restrictions. Despite a growing customer base, hope that the government will act is fading. And both parties were unhelpful.
Photo by Darren Halstead via Unsplash
Vice President Harris expressed her support for marijuana legalization and spoke publicly for the first time about where she stands when she became the Democratic nominee.
“I just think we're at a point where we need to understand that we need to legalize it and stop criminalizing this behavior,” Harris said during a nearly hour-long interview on the sports and culture podcast “All the Smoke,” which was published on Monday.
But what does it mean? Biden promised to help in 2020. The experienced politician waited until the last moment to make a move and then stopped accelerating. Even if 2024 looked like a turning point, nothing will happen. The Drug Enforcement Administration (DEA) has postponed its announcement of a postponement until December, following the election and a possible change in priorities, legalization measures and executive orders.
As governor of Minnesota, Walz witnessed the introduction of legal marijuana and how the state's citizens adopted it in large numbers. But he recently shared that while he believes it should be a “states’ rights issue,” he still wants Democrats to win Congress to support SAFE Banking.
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The Republican presidential candidate endorsed the industry, but nothing happened during his previous term. Party leaders, including House Speaker Mike Johnson (R-LA) and Sen. Mitch McConnell (R-KY), have made it clear they want a step back on marijuana legality. The Senate Republican Party blocked the SAFER BANKING ACT seven times. And the chaos surrounding the ouster of Kevin McCarthy as speaker destroyed the last great chance before camping began.
It seems that all states want the revenue, but no political leader wants to support the industry's growth. The industry just hopes that something will get the contestants to keep their promises.
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