Cannabis businesses could soon see major federal changes as President Donald Trump prepares an executive order to reclassify marijuana, according to WBNG.
The order would move cannabis from a Schedule 1 drug to Schedule 3, recognizing medical use and unlocking long-blocked tax deductions for licensed growers and dispensaries. Industry experts said current rules force many operators to pay crushing tax rates because federal law bars standard write-offs.
Experts cautioned that rescheduling alone won’t fix everything and called it a first step toward broader reform. They said Congress would still need to pass measures like the SAFE Banking Act to give cannabis companies access to federal banks.
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