HHS: cannabis could be moved from Schedule I by year’s end

The US Secretary of Health and Human Services has always had the unilateral authority to recommend the removal of cannabis from Schedule I so the world would be a very different place had Tom Daschle stayed for Senate confirmation for that post in 2009.

For the industry, the reclassification would allow them to make federal tax deductions that are currently prohibited for businesses involved in the sale of Schedule I or II drugs. Because of this prohibition, the cannabis industry has faced a significantly higher effective tax rate, and state governments have taken it upon themselves to provide state-level tax relief for their regulated markets.“While HHS’s scientific and medical evaluation is binding on DEA, the scheduling recommendation is not,” the HHS spokesperson said. “DEA has the final authority to schedule a drug under the [Controlled Substances Act] (or transfer a controlled substance between schedules or remove such a drug from scheduling altogether) after considering the relevant statutory and regulatory criteria and HHS’ scientific and medical evaluation. [Top Federal Health Agency Says Marijuana Should Be Moved To Schedule III In Historic Recommendation To DEA]

The bipartisan, bicameral bill would align DEA & FDA policy to increase access to research and limited medical use of psychedelic-assisted therapy. These innovative, groundbreaking therapies will help veterans & patients struggling with PTSD and treatment-resistant depression.

— The Daschle Group (@DaschleGroup) June 23, 2023