Vermont – May 2, 2017 Vermont Lawmakers Approve Expansion of Medical Marijuana.
The Associated Press reports that Vermont lawmakers are expanding access to medical marijuana in the state. Legislators have approved a bill that would add additional ailments to the list of qualifying conditionsANDtriple the number of dispensaries in the state.
In a new STUDY published by Health Affairs(April, 2017), the authors Ashley Bradford and W. David Bradford propose that the nation could save between $1 billion – $3.8 billionannually – if medical marijuana was federally legal and available in every state.
I recently had the opportunity to try out a great new high-CBD topical cream called Liberty Lotion. It reportedly achieves transdermal absorption deep into dermal layers through a proprietary formula that ensures maximum CBD bio-availability.
I found Liberty Lotion to be a very qualityhigh-CBD lotion. I tried Liberty Lotion for several weeks and found it helpful with my own joint inflammation, aches and pains. I have several fractures and disc bulge in my neck and back – from my time when I was injured as a sworn police officer. I personally found Liberty Lotion quite effective in easing my neck and shoulder pain.
The legal cannabis (marijuana) industry is booming. According to Forbes.com, it was worth an estimated $7.2 billion in 2016. With double digit annual growth, adult recreational sales alone are expected to jump from $2.6 billion in 2016 to $11.2 billion by 2020.
In addition to recreational sale, medical marijuana sales are expected to more than double to $13.3 billion by 2020. That’s a combined annual market of over $24 billion, anticipated in just the next 3 years.
Does AG Sessions worry you?
Jobs, state’s rights, and taxes. That’s right. Jobs, state’s rights and tax revenue are the cannabis industry’s secret weapons against marijuana detractors in the Trump administration and elsewhere.
According to a survey conducted by Marijuana Business Daily, the marijuana industry already employs over 100,000 peoplein the U.S. alone.
Along with billions in sales, comes millions in tax revenue.Motley Fool estimated that in 2016, Colorado’s marijuana tax haul likely exceeded $200 million. That’s a lot of green. And it’s only going to continue to grow each year.
3,500 Sentenced to Marijuana Related Offenses in 2016
According to report release by the U.S. Sentencing Commission, over 3,500 people were sentenced to marijuanarelated federal offenses in 2016 – more than either Crack Cocaine (1,582) or Heroin (2,830). View the entire breakdown here.
The good news is that these numbers have dropped in half since 2012, and continue to fall year after year.
The vast majority of those sentenced went to prison, with the average prison term of 28 months.
When the statistics for marijuana offenses are broken out by race, it’s clear that Hispanics loose big.
77% of all marijuana offenders sentenced were Hispanic.
The trend is promising, but the numbers are still highly disturbing. How long will we continue to jail people for selling a flower?
$28 Billion: Annual Cost ofFederal Prohibition on Marijuana
The Tax Foundation is a leading Washington D.C. -based nonpartisan, non-profit think tank whose mission since 1937 has been to change the world through tax policy.
Madison, WI – The Wisconsin state Assembly voted 98-0 last week, to legalize possession of CBD oil! CBD oil is a marijuana extract and is used to treat seizures, reduce pain and inflammation and may even be effective as a neuro-protectant. It won’t get you high, but many people swear by its benefits.
With the state Senate having overwhelmingly approved the bill, it now moves on to the governor’s desk for his signature. Gov. Scott Walkeris expected to sign the legislation into law.
Unfortunately (for many), the Wisconsin bill does not go far enough. For one thing, the legislation does not allow for the production or sale of CBD oil in Wisconsin. Parents are expected to obtain CBD oil from outside the state. Then bring it back into Wisconsin, in violation of federal law. Seems a little short-sighted, doesn’t it?
Updated March 28th, 2017
NORML – Madison reports that Wisconsin City has removed fines for marijuana possession and consumption.
Under a new ordinance passed this week in March, adults 21+ will no longer be subject to fine for possessing marijuana (public or private). Using marijuana in private is also exempt from any fines. However, public use is still prohibited and subject to a $200 fine.
SMITH FALLS, Ontario – Another milestone for the cannabis industry was reached today…
Canopy Growth [TSX:WEED], Canada’s largest and arguably most successful marijuana company – has been added to the S&P/TSX Composite Index. The index represents nearly 70% of the total market capitalization on the Toronto Stock Exchange and is considered a key benchmark for the Canadian equity market.
With the addition of Canopy Growth to the index, more and more investors will now be ‘buying and holding‘ weed.
Canopy Growth has a marketcapitalization of $780.6 million and a year-to-date stock price change of +192%.Canopy Growth is definitely a cannabis company to watch in 2017.
Update – March 27th, 2017
According to the CBC, PM Tradeau will announce legislation on April 10th – to legalize marijuana for recreational use in Canada by July 1, 2018!
Shares of Canopy Growth Corp.jumped 11% in trading on the news.
Breaking News: Multiple Marijuana Legislative Bills could Signal Shift IN GOP
At least two bills have been introduced by Republican lawmakers in the past 6 weeks, that would end federal marijuana prohibition.
I’m Just a Bill – H.R. 715
On January 27th, 2017 – House Republican Rep. Griffith Morgan from Virginia introduced H.R. 715 to the 115th Congress. Legislation that would reschedule marijuana from a Schedule 1 Controlled Substance, AND exclude cannabidiol (CBD) from the definition of marijuana.
Read more by clicking the image below.
I’m Just a Second Marijuana Bill!
On February 27th, 2017 – House Republican Rep. Thomas Garrett of Virginia introduced legislation entitled, Ending Federal Marijuana Prohibition Act of 2017.
Rep. Garrett’s legislation, if it becomes law, would end federal prohibition by removing marijuana from the Controlled Substances Act. This would in effect, leave marijuana legality/policy up to the states.
Rep. Garrett has been a vocal Trump Supporter and the timing of his bill is worth noting. AG Sessions himself suggested during his confirmation hearings – that if congress didn’t like his approach to marijuana law enforcement, they should change the laws accordingly.
Perhaps the Republicans are attempting to do just that?! First with a stick, then with a carrot?
Garrett’s office released a press release to coincide with the legislation’s introduction:
WASHINGTON, D.C. – Today 5th District Congressman Tom Garrett introduced legislation aimed at federally decriminalizing marijuana.
The short title for this legislation is cited as the “Ending Federal Marijuana Prohibition Act of 2017.” If passed, this bill would take marijuana off the federal controlled substances list – joining other industries such as alcohol and tobacco.
Garrett went on to say,
“this step allows states to determine appropriate medicinal use and allows for industrial hemp growth, something that will provide a major economic boost to agricultural development in Southside Virginia. In the coming weeks, I anticipate introducing legislation aimed at growing the hemp industry in Virginia, something that is long overdue.”
Senators on Marijuana in 2017
Take a listen to Senator Schatz as he blastsAG Sessions on the Senate floor, February 8th, 2017 – over his comments disparaging marijuana.
According to the Associated Press (article), Senators from eight states with legal recreational marijuana (Washington, Colorado, Nevada, California, Oregon, Massachusetts, Maine, Alaska), sent a letter to Attorney General Jeff Sessions on March 2nd, 2017 – asking him to uphold the Department of Justice’s existing enforcement policy toward marijuana.
Among those who signed this letter where Senators Elizabeth Warren and Edward Markey.
Related: Election 2016 – Marijuana Legalization Spreads Across the U.S.
Trump on Marijuana
Republican Presidential Candidate Donald speaks in front of a crowd in Reno, Nevada on October 29th, 2015.
Listen to Trump’s answer, when asked how he would approach medical and recreational marijuana.