Federal Marijuana Classification Under Review, New York Businesses Hope for Change
The White House is considering reclassifying marijuana from a Schedule I drug to a less dangerous Schedule III drug, a move that could have significant implications for the cannabis industry and research. Currently, marijuana is classified alongside heroin and other highly addictive drugs, making it illegal to possess, grow, or sell at the federal level.
New York has already legalized recreational marijuana, and business owners in the state are eager for a change in federal classification. Christine Richardson, owner of Royal Flower Cannabis Dispensary in Albany, believes that the current system is holding back the industry’s growth. “We have challenges right now,” she said. “People are struggling.” Richardson hopes that a reclassification would allow businesses to access federal income tax deductions and reduce financial burdens.
Dr. June Chin, of the state’s Office of Cannabis Management, agrees that reclassification would have positive effects. “It opens doors to research,” she said. “It also reduces financial burdens on cannabis businesses and promotes public health initiatives.” Chin believes that a reclassification would be a step towards success for the industry.
However, not everyone is in favor of the potential change. Smart Approaches to Marijuana, a nonpartisan group, opposes the reclassification, calling it a “public safety and public health nightmare.” The group argues that marijuana is a dangerous drug that can lead to addiction and other negative consequences.
There is no clear timeline for when the White House will make a decision on the reclassification. However, if it does happen, it could have significant implications for the cannabis industry and research in the United States.
