Following the reintroduction of the Cannabis Administration and Opportunity Act (CAOA) by Senate Majority Leader Chuck Schumer and Sens. Cory Booker and Ron Wyden, US Cannabis Council SVP of Public Affairs David Culver released the following statement: "We welcome today’s reintroduction of the CAOA and applaud the cosponsors for their foresight and commitment. The end of federal cannabis prohibition is within site, and our nation will need smart legislation to usher in a new era of legal access. "The CAOA is historic in its ambition and sweeping nature. We look forward to reviewing the updated legislative text and engaging in substantive discussions about how to transition away from the illicit market to a regulated national market that provides opportunities for all. "Coming on the heels of historic rescheduling news, today’s reintroduction is a true sign of the times. We believe that moving to Schedule III will facilitate the many reforms yet to come.” # # #

In response to news reports that the Drug Enforcement Administration (DEA) will move cannabis from Schedule I down to Schedule III under the Controlled Substances Act, US Cannabis Council Executive Director Edward Conklin released the following statement: “The US Cannabis Council strongly supports the move by the DEA to reclassify cannabis at a lower level under the Controlled Substances Act. President Biden and his Administration should be commended for recognizing that cannabis was wrongly classified as a Schedule I controlled substance and pursuing an administrative review to reclassify it. “The proposed DEA rule implements the recommendations of the Department of Health and Human Services, which were based on an extensive scientific review by the Food and Drug Administration. Once finalized, the reclassification of cannabis to Schedule III will mark the most significant federal cannabis reform in modern history and place the nation on a clear path toward our ultimate goal of federal legalization. “Reclassifying cannabis at Schedule III will transform the nation’s cannabis industry by ending the onerous 280E tax penalty. Under federal law, regulated cannabis operators are prevented from deducting standard business expenses–including rent and payroll–from their taxes. This results in an effective tax rate north of 70% for many operators. “Under the status quo, it is challenging to merely break even as a regulated cannabis business. Moving to Schedule III will boost cannabis businesses of all sizes – particularly independent and social equity operators – and make the regulated market much more competitive with the larger illicit market. The net effect will be that more Americans will legally purchase cannabis from licensed retailers that enforce age restrictions and sell safe, high-quality products. “More broadly, the DEA’s proposed rule would provide a range of benefits by recognizing the therapeutic value and low abuse risk of cannabis while signaling to the criminal justice system that cannabis should be a lower priority. Most importantly, it will mark a formal end to the more than 50 years that cannabis has been improperly classified as Schedule I–alongside heroin–and placed at the center of our nation's destructive drug war. “Moving to Schedule III represents a tectonic shift in our nation’s drug laws. The US Cannabis Council is committed to ending federal cannabis prohibition, and we believe that reclassification is a necessary and critical step toward that goal. In the coming days, we will submit comments to the DEA in support of the proposed rule.”

"The US Cannabis Council applauds President Biden for highlighting cannabis reform as an issue of national concern during his State of the Union address. The President has issued historic pardons for nonviolent cannabis offenses and initiated a groundbreaking review of the status of cannabis under federal law. Tonight's remarks before a national audience signal the President's ongoing commitment to advancing cannabis reform. We are encouraged by what we heard this evening and optimistic that the Biden Administration will move cannabis down to Schedule III this year."

WASHINGTON, D.C. – Several outlets are reporting that cannabis banking reform will not be included in the omnibus funding package. Specifically, we understand that Senators failed to reach a deal that would enact the SAFE Banking Act, a critical piece of legislation that would give legal cannabis businesses expanded access to banking and payment services. Under current federal law, financial institutions are prohibited from providing cannabis businesses with critical tools and services like bank accounts and loans...

WASHINGTON, D.C. – Today, President Biden announced the release of WNBA All-Star Brittney Griner, who for ten months languished as a political prisoner in Russia due to accusations of cannabis possession...

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WASHINGTON, D.C. – Following a joint virtual event co-organized by the African American Mayors Association (AAMA) and the United States Cannabis Council (USCC) on cannabis legalization and what mayors can do to best advance social equity, AAMA 1st Vice President Mayor Shawyn Patterson-Howard and USCC CEO Khadijah Tribble joined forces to call on Congress to take action on pressing cannabis issues that are affecting cities across the nation, particularly those with large communities of color...

WASHINGTON, D.C. – Today, the U.S. Cannabis Council released the following statement in response to the introduction of the Preparing Regulators Effectively for a Post-Prohibition Adult Use Regulated Environment (PREPARE) Act in the U.S. Senate. The bipartisan legislation, introduced by Senator John Hickenlooper (D-CO), would create a process for the federal government to establish effective regulation upon federal cannabis legalization. It mirrors the House companion bill that Reps. Dave Joyce (R-OH) and Hakeem Jeffries (D-NY) filed earlier this year.

WASHINGTON, D.C. – Today, Senator Jacky Rosen (D-NV) introduced the Fair Access for Cannabis Small Businesses Act, a critical piece of legislation that would help ensure legally operating small cannabis businesses have access to Small Business Administration (SBA) loans and programs. Currently, SBA excludes from its loan and entrepreneurial development programs all small businesses with “direct” or “indirect” products or services that aid the use, growth, enhancement, or other development of cannabis...