A Critical Look at Cannabis Policy: Taxes, Illicit Markets, and Stalled Federal Reform
Description
Blunt Business welcomes Joshua Horn, co-chair of Fox Rothschild's LLP's cannabis law practice. We addressed several key issues impacting the cannabis industry, including the detrimental impact of California's upcoming cannabis tax increase, the challenges posed by the persistent illicit market, and the lack of state enforcement against it.
We also addressed the stalled federal rescheduling of cannabis, attributing it to political factors and potential resistance within the DEA, while briefly touching on Pennsylvania's legalization efforts and frustrations with the lack of clear federal regulation.
We also focused on the lack of progress in rescheduling cannabis at the federal level, despite the Biden administration's recommendation. Political factors and potential internal resistance within the DEA were cited as reasons for the delay. We also noted that the federal government's current tax revenue from the existing 280E structure might act as a disincentive for reform.
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