Marijuana Business Magazine May-June 2020

Cannabis Industry Association. “That’s the message we’ve always kind of carried, but right now, more than ever, (Congress is) going to be paying attention to any industry that has the opportunity to create more jobs—especially when you look at the service sector. It’s a staggering unemployment rate we’re going to be looking at.” Nothing in the initial $2 trillion stimulus bill signed by the president will benefit legal marijuana companies, which several Capitol insiders believe gives legs to the possibility that MJ businesses could be recipients of future federal assistance. That could even translate into relief from Section 280E of the Internal Revenue Code if the industry can come up with a proposal that won’t cost the federal government too much in tax revenue, some DC activists suggested to Marijuana Business Magazine. “Had you asked me this three weeks ago, I would have said there’s zero chance” that any marijuana- related reform issues get through Congress this year, said The Liaison Group’s David Mangone, who represents the National Cannabis Roundtable on Capitol Hill. “After looking at some of the horse trading that went (into the $2 trillion stimulus bill) … I think the odds have increased.” Mangone and others said there’s an ever-so-slight opening for major federal cannabis reform, and the key is probably the economy. “There’s an attractive opportunity to say, ‘Here’s an industry, and all you need to do is take the fiscal and taxation handcuffs off, and that will create economic growth on its own,’” Mangone said. “It becomes an attractive option for economic growth without having to put too many costs forward.” But it has to be done delicately. Stand-alone bills almost certainly are going to be dead on arrival for the foreseeable future, because both Congress and the American public are going to be fixated on the coronavirus. That means any lawmaker seen to be championing some other cause could be vulnerable to political attack by opponents, which is why any type of marijuana reform would likely have to be wrapped up in a larger omnibus bill—like a trillion-dollar relief package, for instance. John Schroyer is senior reporter for Marijuana Business Magazine. You can reach him at johns@mjbizdaily.com. MEGA EQUIPMENT & SUPPLY ™ NOW OFFERING FINANCING FOR YOUR GROWING BUSINESS Finally, an affordable financing option made specifically for cannabis cultivators, processors, and dispensaries. With low rates, a quick application, and flexible payment plans — get a loan that’s perfect for budding businesses.