Changing Tides: Lobbying On Cannabis Issues In The Biden Administration

With Democrats now in control of the White House and Congress, the chances of federal legalization and regulation have never been better. Prior industry lobbying efforts have mostly focused on rescheduling cannabis under the Controlled Substances Act, but the inability to bank cannabis proceeds or deduct business expenses (due to federal illegality) has inhibited industry development in the interim. And as the federal government implements emergency measures to recover from the COVID-19 epidemic, cannabis enterprises should be a part of America's economic recovery. Cannabis legalization, banking, taxes, and COVID-19 relief are all on the table for industry lobbying efforts with solid chances of realistic reform given the country's current political power make-up.