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https://nationallawforum.com/2022/10/12/bidens-statement-on-marijuana-reform-what-does-it-mean/ Legal Updates. Legislative Analysis. Litigation News. Tue, 25 Oct 2022 16:01:22 +0000 hourly 1 https://wordpress.org/?v=6.9.4 https://nationallawforum.com/2022/10/12/bidens-statement-on-marijuana-reform-what-does-it-mean/#comment-31751 Tue, 25 Oct 2022 16:01:22 +0000 https://nationallawforum.com/?p=24747#comment-31751 […] If cannabis were rescheduled below Schedules I or II, it would end the dreaded impact of Internal Revenue Code section 280E, which prevents cannabis businesses from deducting business expenses (despite a few workarounds).  Eliminating 280E might be an economic boon for the industry. On the other hand, rescheduling cannabis threatens to introduce a host of other complexities.  And to effectively decriminalize (or even legalize) cannabis, more is needed beyond rescheduling.  Congress would still need to take legislative action.  But there is no indication that Congress is ready to act.  Perhaps the House, but not the Senate. […]

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