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. The proposal would move marijuana from the “Schedule I” group to the less tightly regulated “Schedule III.' So what does that mean, and what are the implications?
Technically, nothing yet. The proposal must be reviewed by the White House Office of Management and Budget, and then undergo a public-comment period and review from an administrative judge, a potentially lengthy process.
Because marijuana is on Schedule I, it's been very difficult to conduct authorized clinical studies that involve administering the drug. That has created something of a Catch-22: calls for more research, but barriers to doing it. 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. The deduction rule doesn't apply to Schedule III drugs, so the proposed change would cut cannabis companies' taxes substantially.
Indeed, there are, including the national anti-legalization group Smart Approaches to Marijuana. President Kevin Sabet, a former Obama administration drug policy official, said the HHS recommendation “flies in the face of science, reeks of politics” and gives a regrettable nod to an industry “desperately looking for legitimacy.” Some legalization advocates say rescheduling weed is too incremental.
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