MJBiz - September/October 2024 - 29

Photo by stock.adobe.com/Pavel_A
L
ike many recent votes, the
November 2024 general
election will be crucial for the
regulated marijuana industry.
With the proposal from U.S.
President Joe Biden's administration
seeking to move marijuana from
Schedule 1 to Schedule 3, major
reforms at the federal level have
never been so within grasp. The
impact of such a change-rescinding
the onerous 280E tax burden,
increased investment, expanded
research, public acceptance and
more-can't be understated.
It seems unlikely that former
President Donald Trump would
attempt to block rescheduling-
although some observers don't
discount the possibility-but
it is even more unlikely he
would actively work to advance
rescheduling if he wins the
November election.
Sitting Vice President Kamala
Harris, on the other hand, very
likely would advance rescheduling,
given her increasingly fullthroated
support for marijuana
reform.
Alas, reform wouldn't be entirely
up to Harris, should she be elected.
Who gets elected in the U.S.
Senate and House of Representatives-and
who controls key committees
that decide which bills can
advance-will have huge influence
over what reforms move forward.
And this year, there are numerous
pivotal races with compelling
storylines involving marijuana
reform and regulation.
While this election doesn't have
a robust number of legalization
referendums, voters in Florida will
cast ballots on whether to legalize
recreational marijuana. And
despite needing 60% of the vote
for the measure to pass, marijuana
advocates in the Sunshine State are
optimistic.
Other notable referendums would
legalize regulated marijuana in key
Great Plains states, while voters in
existing markets will weigh in on
issues that intersect with labor and
gun rights.
It's a uniquely American election,
and there's a ton at stake for
marijuana operators.
mjbizdaily.com | September-October 2024 29

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MJBiz - September/October 2024

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MJBiz - September/October 2024 - 1
MJBiz - September/October 2024 - 2
MJBiz - September/October 2024 - 3
MJBiz - September/October 2024 - 4
MJBiz - September/October 2024 - 5
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