Biden Loosens Up on Weed
The Daily
Implications of Marijuana Reclassification on Business and Legal System
The reclassification of marijuana could have significant implications beyond medical research, extending into the business community. Small business owners in the marijuana industry may now be eligible for tax credits previously unavailable due to federal classification. This change has sparked excitement among business heads and led to a surge in stocks of marijuana-related companies. While the reclassification won't alter federal laws on marijuana, it will shift the perception of marijuana within the federal system, potentially decreasing the pressure to punish violators. However, to address the criminal justice system's approach towards marijuana users, Congress needs to amend laws dating back to 1971 concerning mandatory minimums and sentencing details for marijuana use.
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