Last Week’s Big News: Marijuana Rescheduled to Schedule III by DEA, But Anti-Cannabis Group Already Fighting Back
In a surprising move, the Drug Enforcement Administration (DEA) announced that marijuana would be rescheduled from a Schedule I to a Schedule III substance. This means that the plant, previously classified as having no medical value, will now be recognized as having some potential for medical use. While this news was welcomed by many, it fell short of fully legalizing or declassifying marijuana. And just one day after the announcement, a prominent anti-cannabis group was already rallying their supporters to fight against the policy change.
Anti-Cannabis Group Launches Fundraising Campaign to Combat DEA’s Rescheduling Decision
Smart Approaches to Marijuana (SAM), a group known for their vocal opposition to cannabis legalization, wasted no time in sending out an email to their supporters asking for donations to fight against the DEA’s decision. The email, sent out on Wednesday, included a link to a “Rescheduling Legal Defense Fund” where supporters could make one-time or recurring donations ranging from $250 to $5,000. And for those who really hate cannabis, there was even an option to donate even more.
If you’re not familiar with SAM, they claim to be bipartisan but their website links out to The Drudge Report. Their main goal, according to their website, is to prevent marijuana from becoming the “next Big Tobacco,” which many find to be a ridiculous comparison. In fact, a recent study showed that tobacco consumption has actually decreased in states with recreational cannabis legalization.
But Wait, There’s More: Tax Write-Offs and High THC Concerns
While SAM may have some valid concerns about the potential dangers of marijuana, they are also overlooking some major benefits of rescheduling the plant. For one, it would allow cannabis companies to take advantage of tax write-offs, something that is currently very difficult for them to do. The National Cannabis Industry Association (NCIA) predicts that this change could greatly benefit state-legal cannabis businesses by alleviating the harsh effects of tax code 280E. This change would also eliminate current restrictions on tax deductions that 280E imposes.
And as for the concern about high potency THC drugs becoming normalized, studies have shown that tobacco consumption has actually decreased in states with recreational cannabis legalization. So while SAM may be fighting against the rescheduling of marijuana, it seems that the potential benefits far outweigh their fears. Plus, think of all the weed you could buy with that donation money. Just saying.
