Minority Cannabis Business Association Commends DEA's Move to Reschedule Cannabis to Schedule III

Following the recent announcement from the DEA, MCBA put out the following statement:

For Immediate Release: Tuesday, April 30, 2024

Contact: Tahir Johnson at tahir@minoritycannabis.org

Contact: Frederika Easley at frederika@minoritycannabis.org

Minority Cannabis Business Association Commends DEA’s Move to Reschedule Cannabis to Schedule III

In response to the reported rescheduling of cannabis to Schedule III by the Drug Enforcement Administration, the Minority Cannabis Business Association issues the following statement:

“The Minority Cannabis Business Association commends the Drug Enforcement Administration for its proposal to reschedule cannabis to Schedule III. This decision marks a significant shift in federal drug policy, recognizing the therapeutic benefits of cannabis and acknowledging its potential for responsible use within regulated markets.

“Under the leadership of President Biden, this move signifies a departure from outdated approaches to drug regulation and a step towards equitable opportunities in the cannabis industry. As a trade association dedicated to serving the needs of minority cannabis businesses and communities, we believe rescheduling cannabis will open doors for economic empowerment and social justice.

“While we continue to advocate for the descheduling of cannabis entirely, we recognize the importance of this historic step. Rescheduling cannabis to Schedule III is a pivotal moment in cannabis reform, providing relief for businesses burdened by unfair tax regulations, such as 280E, and signaling a move towards a more sensible and humane approach to drug policy. This reclassification holds particular promise for minority cannabis business owners, alleviating the burden of punitive tax regulations and enabling them to access standard tax deductions. By allowing these businesses to reinvest more effectively in their operations, employees, and communities, Schedule III classification will promote equity and empowerment within marginalized communities disproportionately affected by the War on Drugs.”

“We look forward to engaging in the public comment process and advocating for policies that prioritize equity, inclusion, and community reinvestment. This is a crucial step towards building a more just and equitable cannabis industry for all.”

Tahir H Johnson, President, Minority Cannabis Business Association

“We represent business owners and many of them are in crisis due to the unfair tax burden of 280e. This relief is crucial. At the same time we know more is necessary, for our businesses and our communities. We will continue to work with all decision makers who share this vision and educating those who may not.”

Frederika Easley, Vice-President, Minority Cannabis Business Association

Founded in 2015, the Minority Cannabis Business Association (MCBA) is the largest national trade association dedicated to serving the needs of minority cannabis businesses and our communities. MCBA represents minority and allied cannabis businesses, aspiring entrepreneurs, and supporters who share a vision of an equitable, just, and responsible cannabis industry. Our mission is carried out by a 15-member Board of Directors composed of diverse industry veterans, medical and legal professionals, advocates, and community leaders. Learn more at www.minoritycannabis.org

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