The DEA proposal to move marijuana to a Schedule III drug could give sweeping tax breaks to pot businesses.
is on the verge of a landmark retreat from the “reefer-madness” hysteria that has defined the Drug War since its inception more than 50 years ago.is moving to strike cannabis from the top tier of prohibited substances — Schedule I, the same as heroin — and classify it, instead, as Schedule III, reserved for drugs with “moderate to low potential” for addiction.
Schedule III drugs are unaffected by that provision — meaning pot businesses could soon be getting a massive tax break. The National Cannabis Industry Association touted that re-scheduling would bring “to state-legal cannabis businesses,” with CEO Aaron Smith adding that “moving marijuana out of its absurd classification” finally recognizes the “therapeutic value” of pot long recognized by doctors and ”millions of medical cannabis patients.”correct a half-century-old travesty.
Classifying cannabis as a Schedule I drug meant that it was deemed to have no medicinal value and a high potential for abuse. This designation created a Catch 22; research of Schedule I drugs is tightly restricted, effectively blocking studies that might have demonstrated pharmacological benefits of pot or offer a more honest accounting of the drug’s harm profile.
But the Biden proposal stops well short of the full rescheduling of marijuana that progressive lawmakers have pressed the administration to adopt — which would allow marijuana to be treated like beer and liquor. And it keeps the White Houes out of step with public opinion: A recorddrafted by Sen. Elizabeth Warren and signed by majority leader Chuck Schumer among other Democrats, details the faults of keeping pot under the regime of the Controlled Substances Act.
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